Sterling fell 0.19% against the dollar to $1.3317, while the euro rose 0.27% to $1.1143 on Tuesday, as the dollar gained support from steadier AI-related sentiment and traders trimmed short-dollar positions ahead of the Fed's Wednesday decision. ING said Fed Chair Kevin Warsh's reiteration of inflation commitments reinforces a structural floor for the dollar. The pound also faces the UK Budget the same day, with markets expecting a low-key statement from Chancellor John Healey, while reports suggested he may add about £20 billion in investment over five years. Markets are pricing in a 25-basis-point Bank of England rate hike to 4% in November.
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pound sterlingUS dollarexchange ratesFedbudgetKevin Warsh
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Related tickers and likely impact
DXY
▲ Likely positiveRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/26/2026 | 102.02 |
| Change that session | +0.27% |
GBP/USD
▼ Likely negativeRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/26/2026 | 1.33422 |
| Change that session | -0.29% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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