# British Pound edges higher above 1.3450 ahead of BoE rate decision

> GBP/USD rose to about 1.3485 in Asian trading on Thursday as the US dollar weakened after Democrats won majorities in both the Senate and House in the midterm elections. Markets were awaiting the Bank of England decision later that day, where a rate hike to 4% from 3.75% was widely expected.

- Date: 2026-11-05 · published 2026-11-05T03:09:58.188Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/81028-british-pound-edges-higher-above-1-3450-ahead-of-boe-rate-decision
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger pound against the dollar makes US-priced commodities relatively cheaper for UK and European buyers and reflects a weaker dollar, which tends to support dollar-denominated grain and oilseed prices. The BoE hike adds to tightening pressure on sterling-zone borrowing costs.

## Read by commodity

- DXY: bearish ▼
- GBPUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-07-29 | [EUR/USD extends upside above 1.0850, eyes on Eurozone GDP, Fed rate decision — Octa](https://feedsoft.ai/events/29487-eur-usd-extends-upside-above-1-0850-eyes-on-eurozone-gdp-fed-rate-decision-octa.md) | -0.2% | -1.8% |
| DXY | 2017-06-30 | [Is The Pound / Dollar Conversion Rate Tipped To Go Higher?](https://feedsoft.ai/events/70752-is-the-pound-dollar-conversion-rate-tipped-to-go-higher.md) | +0.3% | -1.9% |
| DXY | 2025-09-29 | [AUD/USD edges higher ahead of RBA meeting amid softer Greenback](https://feedsoft.ai/events/23138-aud-usd-edges-higher-ahead-of-rba-meeting-amid-softer-greenback.md) | -0.3% | +0.3% |
| DXY | 2018-01-31 | [Rand edges higher; eyes on Zuma’s fate - Moneyweb](https://feedsoft.ai/events/67271-rand-edges-higher-eyes-on-zuma-s-fate-moneyweb.md) | +0.4% | +1.2% |
| DXY | 2017-04-01 | [Bullish British Pound To Dollar Rate Today On Better-than-Forecast UK Sales](https://feedsoft.ai/events/72235-bullish-british-pound-to-dollar-rate-today-on-better-than-forecast-uk-sales.md) | +0.2% | -0.0% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/british-pound-edges-higher-above-13450-ahead-of-boe-rate-decision-202611050232

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.