# UK interest rates live: Pound rises ahead of Bank of England decision

> Sterling rose 0.2% against the dollar to nearly $1.35, its highest since September, as markets priced in a Bank of England rate increase. The move followed a Democratic sweep of the US midterm elections, which pushed the dollar lower on expectations of gridlock limiting spending and tax policy.

- Date: 2026-11-05 · published 2026-11-05T09:09:57.373Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/81484-uk-interest-rates-live-pound-rises-ahead-of-bank-of-england-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 and weaker dollar make US-priced commodities like feed grains and oilseed products relatively cheaper for UK and European buyers. Higher UK rates raise borrowing costs for importers and farmers who hold stock.

## Read by commodity

- DXY: bearish ▼
- GBPUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-06-29 | [GBP/USD Rate Rises As Bank Of England Hint At Interest Rate Increase - Currency Live](https://feedsoft.ai/events/70750-gbp-usd-rate-rises-as-bank-of-england-hint-at-interest-rate-increase-currency.md) | +0.3% | -1.7% |
| DXY | 2023-01-27 | [Are there any positives for the pound ahead of the Bank of England meeting?](https://feedsoft.ai/events/38023-are-there-any-positives-for-the-pound-ahead-of-the-bank-of-england-meeting.md) | -0.6% | +2.1% |
| DXY | 2017-06-28 | [Pound jumps on Bank of England Governor's rate rise hint - BBC News](https://feedsoft.ai/events/70748-pound-jumps-on-bank-of-england-governor-s-rate-rise-hint-bbc-news.md) | +0.1% | -1.9% |
| DXY | 2020-11-05 | [Pound-Dollar Rate Rallies 1% As BoE Fails To Mention Negative Interest Rates \| Exchange Rates UK](https://feedsoft.ai/events/50419-pound-dollar-rate-rallies-1-as-boe-fails-to-mention-negative-interest-rates.md) | -0.8% | -2.9% |
| DXY | 2019-01-01 | [Fed decision: Central bank lifts interest rates, lowers forecasts to two hikes in 2019](https://feedsoft.ai/events/61751-fed-decision-central-bank-lifts-interest-rates-lowers-forecasts-to-two-hikes-in.md) | -0.7% | -1.7% |

## Sources

- telegraph.co.uk: https://www.telegraph.co.uk/business/2026/11/05/interest-rates-bank-of-england-pound-dollar-bailey-ftse-100/

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