The pound trimmed some losses but remained lower at $1.354, retreating from near two-month highs, as political instability in the UK and stalled US-Iran negotiations weighed on sentiment. Prime Minister Keir Starmer has vowed to stay in office despite pressure from over 70 Labour MPs to resign following the party’s poor local election performance. Investors worry a leadership change could lead to higher fiscal spending to regain voter support, though Starmer has stated that a leadership contest has not yet been triggered. Meanwhile, Brent crude oil prices climbed above $105 a barrel after US President Trump said the ceasefire agreement with Iran was on “massive life support” following the latest response from Tehran to the US proposal for a peace deal. Traders are increasing bets on further Bank of England rate hikes, with markets now pricing in nearly three additional increases by year-end.
The GBP/USD exchange rate fell to 1.3535 on May 13, 2026, down 0.04% from the previous session. Over the past month, the British Pound has weakened 0.24%, but it's up by 2.09% 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 May 13 of 2026.
The GBP/USD exchange rate fell to 1.3535 on May 13, 2026, down 0.04% from the previous session. Over the past month, the British Pound has weakened 0.24%, but it's up by 2.09% over the last 12 months. The British Pound is expected to trade at 1.37 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.39 in 12 months time.