The pound slipped to $1.34, as investors processed disappointing UK jobs data and tracked developments in the Middle East conflict. Payrolls dropped by 100,000 in April, the sharpest fall since May 2020 and far exceeding forecasts of a 10,000 decline. The unemployment rate unexpectedly rose to 5% in Q1 2026, while regular wage growth slowed to 3.4%, its weakest pace since late 2020, and vacancies fell to the lowest level since 2021. As a result, traders now expect just two Bank of England rate hikes by December. Elsewhere, Brent crude stayed near a four-year high after US President Donald Trump delayed further strikes on Iran but warned of a possible "full, large-scale assault" if talks fail. In UK politics, leadership frontrunner Andy Burnham ruled out changing borrowing limits, easing fears of looser fiscal policy that had driven last week’s UK bond selloff. Meanwhile, PM Keir Starmer vowed to stay on even if Burnham wins the byelection, hinting at a leadership clash.
The GBP/USD exchange rate fell to 1.3391 on May 20, 2026, down 0.03% from the previous session. Over the past month, the British Pound has weakened 0.85%, and is down by 0.21% 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 20 of 2026.
The GBP/USD exchange rate fell to 1.3391 on May 20, 2026, down 0.03% from the previous session. Over the past month, the British Pound has weakened 0.85%, and is down by 0.21% 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 1.36 in 12 months time.