{
  "id": 12752232,
  "title": "The Pound slides back to the bottom of its range as the bond selloff resumes",
  "url": "https://urgent.news/2026/10/07/the-pound-slides-back-to-the-bottom-of-its-range-as-the-bond-selloff",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-07T21:55:46.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/the-pound-slides-back-to-the-bottom-of-its-range-as-the-bond-selloff-resumes-202610072155"
  },
  "original_language": "en",
  "account": "The British Pound (GBP) experienced a decline to the lowest level of its trading range since September 24, as the selloff in bonds continued. Over the past ten days, GBP/USD has hovered just above 1.3200, marking a ten-day streak below the level seen on Tuesday. The U.S. Dollar gained momentum as bond yields rose, with the yield on 10-year Treasuries peaking at 5.30% during Wednesday's auction, the highest yield at a 10-year sale since November 2000. Meanwhile, the UK's 30-year gilt yield climbed above 6%, a level not reached since October 1, 1998. While the Pound remains stronger against the Euro since June 2025, the gilt selloff has increased Britain's borrowing costs more rapidly than it has weakened the currency. The minutes from the September 15-16 meeting, released on Wednesday, indicated that all 19 participants supported a hike in interest rates to between 3.75% and 4.00%. Most participants believed another increase would be appropriate by the end of the year, and several stated that the current rate holds the economy back only slightly or not at all. Despite President Trump's comments that Fed Chair Jerome Powell was only one of the 18 votes backing the hike, the minutes showed the remaining participants also supporting the decision. The upcoming Fed meetings on October 28 and December 9, coupled with the Bank of England's decision on November 5, could further impact the Dollar's strength against the Pound.",
  "summary": "The low of every session since September 24 has come within half a cent of 1.3200, and Wednesday made it ten in a row. GBP/USD trades just above 1.3200, below the level Tuesday's rally started from.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}