The GBP/USD pair rose after three days of losses, trading around the 1.3390 level during Asian business hours on Monday. The value of the pair declines as the pound stabilizes ahead of the release of the UK Gross Domestic Product (GDP) for the third quarter.
The British pound could face headwinds as markets have fully priced in the first rate cut by the Bank of England (BoE) in June 2026, while the probability of a cut in March is at 40% relatively high, according to interest rate probability data from Capital Edge.
The US dollar (USD) could rise as Federal Reserve (Fed) Chairman Jerome Powell indicated that a rate hike is not likely in the near future and the US central bank is in a “wait and see” mode to assess incoming economic data.
The summary of economic forecasts, or so-called “point chart”, indicated average expectations of just one additional rate cut in 2026. The CME FedWatch tool shows a 79.0% probability of holding interest rates at the Fed’s January meeting, up from 75.6% the week before. Meanwhile, the probability of a 25 basis point rate cut fell to 21.0% from 24.4% a week ago.
Traders are also focusing on US President Donald Trump, who said last week that the next head of the Federal Reserve (Fed) will be someone who believes in much lower interest rates. Meanwhile, Fed Governor Christopher Waller, who is under consideration for the role, reiterated his dovish stance on interest rates during a CNBC forum.
The price of the British pound today
The table below shows the percentage change of the British Pound (GBP) against the major currencies listed today. The British pound was the strongest against the US dollar.
| US dollars | euro | GBP | JPY | Canadian | Australian dollar | New Zealand dollar | Swiss franc | |
|---|---|---|---|---|---|---|---|---|
| US dollars | -0.04% | -0.12% | -0.09% | -0.05% | -0.13% | -0.11% | -0.08% | |
| euro | 0.04% | -0.08% | -0.02% | -0.00% | -0.09% | -0.07% | -0.04% | |
| GBP | 0.12% | 0.08% | 0.02% | 0.08% | -0.01% | 0.02% | 0.04% | |
| JPY | 0.09% | 0.02% | -0.02% | 0.04% | -0.04% | -0.03% | 0.00% | |
| Canadian | 0.05% | 0.00% | -0.08% | -0.04% | -0.08% | -0.05% | -0.03% | |
| Australian dollar | 0.13% | 0.09% | 0.00% | 0.04% | 0.08% | 0.02% | 0.03% | |
| New Zealand dollar | 0.11% | 0.07% | -0.02% | 0.03% | 0.05% | -0.02% | 0.03% | |
| Swiss franc | 0.08% | 0.04% | -0.04% | -0.01% | 0.03% | -0.03% | -0.03% |
The heat map shows the percentage changes in major currencies versus each other. The base currency is chosen from the left column, while the counter currency is chosen from the top row. For example, if you select the British pound from the left column and move along the horizontal line to the US dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
