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GBP/USD bounces after UK Q2 GDP revision as USD weakens

British GDP rose 0.5% in Q2, revised up from 0.4%, supporting expectations for a 25 bps Bank of England rate hike on November 5.

Reported · Written up by our desk · Major Pairs

FXStreet said the GBP/USD pair found some buyers in early Europe on Wednesday, moving away from a two-month low near 1.3200.

The outlet attributed the rebound to a firmer final UK GDP print, with the Office for National Statistics reporting 0.5% growth in Q2 2026, revised up from an initial 0.4%.

FXStreet added that the data reinforced market bets for a 25-basis-point Bank of England rate hike at its November 5 meeting, while the US dollar was pressured by retreating US bond yields tied to lower Treasury yields and dovish comments from New York Fed President John Williams.

Latest closeGBP/USD 1.323 ▼0.3%

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