The British pound climbed past $1.34, reaching its highest level since early June, as investors shifted toward riskier assets following the US and Iran’s preliminary agreement to end their three-month conflict. A framework deal, including the lifting of the US blockade and the reopening of the Strait of Hormuz, is set to be signed on Friday, though unresolved details remain around Iran’s nuclear program. With the Bank of England's policy meeting approaching on Thursday, markets broadly anticipate that interest rates will be maintained at 3.75% in a divided vote, as officials consider rising inflation against a deteriorating labor market and weak economic expansion. Traders have adjusted their expectations, now forecasting only a single rate increase this year, with a 25-basis-point rise not fully anticipated until December. Additionally, the outcome of Thursday's special election in Makerfield could impact perceptions of Labour's leadership direction and future economic policies.
The GBP/USD exchange rate rose to 1.3426 on June 15, 2026, up 0.16% from the previous session. Over the past month, the British Pound has weakened 0.06%, and is down by 1.10% 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 June 15 of 2026.
The GBP/USD exchange rate rose to 1.3426 on June 15, 2026, up 0.16% from the previous session. Over the past month, the British Pound has weakened 0.06%, and is down by 1.10% 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.