The pound ended July just above $1.34, gaining more than 1% against the US dollar as investors reassessed the Bank of England's latest policy decision and welcomed easing political uncertainty following the appointment of the UK's seventh prime minister in a decade. The new government also pledged to maintain fiscal discipline, supporting investor confidence. The BoE voted 6-3 to leave interest rates unchanged, with three policymakers backing a rate hike versus expectations for a 7-2 split. However, Governor Andrew Bailey downplayed expectations of an imminent tightening cycle, saying the disinflation process remains on track, while some officials suggested rate cuts could return to the agenda if the Iran conflict subsides. Markets now price in just one BoE rate hike by year-end. In the US, the Federal Reserve kept interest rates unchanged this week, with investors expecting two rate hikes by June next year as renewed US-Iran hostilities continue to cloud the economic outlook.

The GBP/USD exchange rate rose to 1.3491 on August 2, 2026, up 0.06% from the previous session. Over the past month, the British Pound has strengthened 1.05%, and is up by 1.45% 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 August 2 of 2026.

The GBP/USD exchange rate rose to 1.3491 on August 2, 2026, up 0.06% from the previous session. Over the past month, the British Pound has strengthened 1.05%, and is up by 1.45% over the last 12 months. The British Pound is expected to trade at 1.35 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.38 in 12 months time.



Crosses Price Day Year Date
GBPUSD 1.3489 0.0007 0.05% 1.44% Aug/02
EURGBP 0.8557 0.0009 0.10% -1.77% Aug/02
GBPAUD 1.9154 -0.0051 -0.27% -6.74% Aug/02
GBPNZD 2.2927 0.0014 0.06% 2.29% Jul/31
GBPJPY 212.2518 -2.5703 -1.20% 8.55% Jul/31
GBPCNY 9.1033 0.0163 0.18% -4.66% Jul/31
GBPCHF 1.0887 0.0046 0.43% 2.01% Jul/31
GBPCAD 1.8902 0.0035 0.19% 3.25% Jul/31
GBPMXN 23.4212 0.0683 0.29% -6.13% Jul/31
GBPINR 128.7907 0.1791 0.14% 11.28% Jul/31
GBPBRL 6.7536 -0.0827 -1.21% -8.71% Jul/31
GBPRUB 107.5827 -0.1580 -0.15% 1.28% Jul/31
GBPKRW 1,922.5177 5.3372 0.28% 4.24% Jul/31
GBPIDR 24,019.4805 -282.4293 -1.16% 10.52% Jul/31
GBPSEK 12.8261 -0.0078 -0.06% -0.78% Jul/31
GBPPLN 4.9778 -0.0526 -1.05% 1.81% Jul/31
GBPARS 1,979.4370 -25.6916 -1.28% 9.32% Jul/31
GBPCZK 27.8106 -0.4629 -1.64% -1.11% Jul/31
GBPDKK 8.7637 0.0312 0.36% 2.51% Jul/31
GBPHUF 418.6138 -4.8632 -1.15% -8.22% Jul/31
GBPNOK 12.7989 -0.0363 -0.28% -6.12% Jul/31
 Currencies
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Related Last Previous Unit Reference
United Kingdom Inflation Rate 2.60 2.80 percent Jun 2026
United States Inflation Rate 3.50 4.20 percent Jun 2026
United Kingdom Interest Rate 3.75 3.75 percent Jul 2026
United States Fed Funds Interest Rate 3.75 3.75 percent Jul 2026
United States Unemployment Rate 4.20 4.30 percent Jun 2026
United Kingdom Unemployment Rate 4.90 4.90 percent May 2026

British Pound
The GBPUSD spot exchange rate specifies how much one currency, the GBP, is currently worth in terms of the other, the USD. While the GBPUSD spot exchange rate is quoted and exchanged in the same day, the GBPUSD forward rate is quoted today but for delivery.
Actual Previous Highest Lowest Dates Unit Frequency
1.35 1.35 2.86 1.03 1957 - 2026 Daily

News Stream
Pound Posts 1% Monthly Gain
The pound ended July just above $1.34, gaining more than 1% against the US dollar as investors reassessed the Bank of England's latest policy decision and welcomed easing political uncertainty following the appointment of the UK's seventh prime minister in a decade. The new government also pledged to maintain fiscal discipline, supporting investor confidence. The BoE voted 6-3 to leave interest rates unchanged, with three policymakers backing a rate hike versus expectations for a 7-2 split. However, Governor Andrew Bailey downplayed expectations of an imminent tightening cycle, saying the disinflation process remains on track, while some officials suggested rate cuts could return to the agenda if the Iran conflict subsides. Markets now price in just one BoE rate hike by year-end. In the US, the Federal Reserve kept interest rates unchanged this week, with investors expecting two rate hikes by June next year as renewed US-Iran hostilities continue to cloud the economic outlook.
2026-07-31
Pound Holds Near Two-Week High as Markets Reassess BoE Rate Path
The pound traded around $1.345, close to its strongest level in nearly two weeks, and was heading for a monthly gain of more than 1% against the dollar, its best monthly performance since April. Sterling was supported by investors reassessing the Bank of England’s July decision and by fading political uncertainty in the UK, as the country welcomed its seventh prime minister in a decade, with the new government pledging to adhere to fiscal rules. The BoE voted 6-3 to keep interest rates unchanged, with three policymakers favoring a rate hike compared with expectations for a 7-2 split. However, Governor Andrew Bailey pushed back against speculation of an imminent tightening cycle, saying the disinflation process remains intact, while some officials noted rate cuts could return to focus if the Iran conflict ends. Markets are now pricing in just one rate hike by the end of the year, while renewed US-Iran hostilities continue to add uncertainty to the economic outlook.
2026-07-31
Pound Rises After BoE Holds Rates and Warns on Inflation Risks
Sterling strengthened to $1.34, its highest level since July 20, after the Bank of England voted 6-3 to keep the Bank Rate unchanged at 3.75%, with markets having expected a narrower 7-2 split. The BoE said the impact of higher energy prices remains uncertain and warned that inflation is likely to rise later this year as energy costs feed through to the economy. It added that the risk of persistent inflation has increased, with the outlook now tilted to the upside, although developments in the Middle East could still materially alter the outlook. Meanwhile, fresh US airstrikes on Iran in response to attacks on American forces across the Middle East lifted oil prices and weighed on risk sentiment. The Federal Reserve also added to uncertainty on Wednesday by leaving interest rates unchanged despite three FOMC members dissenting in favor of a rate hike.
2026-07-30