Home›Forex›Major Pairs›GBP/USD slips after Brent lifts the U.S. dollar

GBP/USD slips after Brent lifts the U.S. dollar

GBP/USD closed near 1.3210 after topping above 1.3250 earlier in the session, while the Dollar Index hit its highest level since April 2025 on the same move.

Reported · Written up by our desk · Major Pairs

GBP/USD drifted lower as the Dollar drew strength, with the pair closing near 1.3210 after rising to just above 1.3250 before London opened and then giving back gains. FXStreet linked the move to Brent pushing above $107 a barrel, which weighed on the pound-dollar exchange rate.

FXStreet also noted that the Dollar Index reached its highest level since April 2025 during the same move, suggesting Monday’s slide was driven more by the dollar than by pound-specific factors.

On the UK side, FXStreet said Bank of England external member Mann pointed to UK inflation near 4% around the turn of the year as a possible trigger for a wage-price drift, and cautioned that services inflation would be hard to reduce without more hikes. Markets, according to FXStreet, put odds of a hike on November 5 near 90% and priced the Bank Rate at 4.75% within a year, with additional rate increases also reflected in futures pricing for the Fed.

Latest closeBrent $103.93 ▲3.7%|GBP/USD 1.323 ▼0.3%|Dollar index 102.12 ▼0.1%

More like this

Sources