The pound traded just below $1.34, hovering near its strongest level in a month as investors assessed a mixed batch of economic data ahead of next week’s budget and the Bank of England’s November 5 policy meeting. Flash PMI data showed UK private-sector activity accelerated to its fastest pace since February, beating expectations across both manufacturing and services. However, retail sales fell more sharply than expected in September, while consumer confidence recorded its steepest monthly decline since the pandemic, reflecting persistent cost-of-living pressures and concerns over the Middle East conflict. Stronger-than-expected inflation data earlier this week prompted markets to increase bets on further monetary tightening, with at least three quarter-point rate hikes priced in by April 2027 and the first potentially coming as early as November 5. Investors now await next week’s budget, where Chancellor John Healey is expected to emphasize fiscal discipline.
The GBP/USD exchange rate fell to 1.3378 on October 23, 2026, down 0.17% from the previous session. Over the past month, the British Pound has strengthened 1.20%, and is up by 0.51% over the last 12 months. Historically, the British Pound reached an all time high of 2.86 in December of 1957. British Pound - data, forecasts, historical chart - was last updated on October 25 of 2026.
The GBP/USD exchange rate fell to 1.3378 on October 23, 2026, down 0.17% from the previous session. Over the past month, the British Pound has strengthened 1.20%, and is up by 0.51% over the last 12 months. The British Pound is expected to trade at 1.34 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.37 in 12 months time.