# Pound Sterling Price News and Forecast: GBP struggles to extend gains ahead of BoE's policy decision

> Sterling traded near 1.3490 against the dollar ahead of the Bank of England's policy decision, which was widely expected to be a 25bp hike to 4%. The dollar weakened after Democrats won control of both houses of Congress in the midterm elections.

- Date: 2026-11-05 · published 2026-11-05T18:09:13.277Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/82116-pound-sterling-price-news-and-forecast-gbp-struggles-to-extend-gains-ahead-of
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

A weaker dollar after the midterm result and the BoE hike can ease dollar-denominated import costs for some feed buyers. The effect on feed commodity prices is small.

## Sources

- fxstreet.com: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-struggles-to-extend-gains-ahead-of-boes-policy-decision-202611051222

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