{
  "id": 16843470,
  "title": "British Pound weakens to near 1.3300 ahead of UK budget, Fed rate decision",
  "url": "https://urgent.news/2026/10/28/british-pound-weakens-to-near-1-3300-ahead-of-uk-budget-fed-rate",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-28T02:36:33.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/british-pound-weakens-to-near-13300-ahead-of-uk-budget-fed-rate-decision-202610280236"
  },
  "original_language": "en",
  "account": "The British Pound (GBP) experienced a decline to approximately 1.3300 against the US Dollar (USD) during Asian trading hours on Wednesday. The weakening of GBP was attributed to a cautious market sentiment preceding the UK Budget and Federal Reserve's (Fed) interest rate decision. Finance Minister John Healey was set to unveil his first budget that day, facing growing pressure to address the cost-of-living burden for households while assisting businesses. However, his options were constrained by high government borrowing costs and significant tax hikes introduced by his predecessor, Rachel Reeves. Industry experts noted that despite higher global bond yields, the UK appeared relatively free of financial issues, making it one of the healthier economies among major developed markets. The Federal Reserve was expected to maintain its interest rate within the range of 3.75% to 4.0% without any changes, with Fed Chair Kevin Warsh's speech providing additional insights into the US interest rate outlook. Markets projected a 92.8% probability of the Fed keeping rates unchanged at their October meeting, with an 84.4% chance of a December hike. Analysts from Scotiabank attributed the GBP's softness to caution ahead of the UK Budget, with the currency showing a neutral to bearish outlook. Technical analysis indicated that the GBP/USD pair traded below the 100-day simple moving average, indicating a mildly bearish trend. The Pound Sterling, Britain's oldest currency, is issued by the Bank of England, with its value primarily influenced by monetary policy aimed at maintaining price stability around a 2% inflation rate. Economic data releases, such as GDP, PMIs, and employment figures, can impact the Pound's value.",
  "summary": "The GBP/USD pair extends the decline to around 1.3300 during the Asian trading hours on Wednesday. The British Pound (GBP) softens against the US Dollar (USD) amid cautious mood ahead of UK Budget and Federal Reserve (Fed) interest rate decision on Wednesday.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 6,
    "also_reported_by": [
      {
        "outlet": "Qatar Tribune Business",
        "title": "Asian markets gain ahead of earnings, Fed decision",
        "url": "https://urgent.news/2026/10/27/asian-markets-gain-ahead-of-earnings-fed-decision",
        "published": "2026-10-27T21:00:00.000Z"
      },
      {
        "outlet": "CNBC World",
        "title": "Stock futures are little changed as traders await Fed decision, Big Tech earnings: Live updates",
        "url": "https://urgent.news/2026/10/27/stock-futures-are-little-changed-as-traders-await-fed-decision-big",
        "published": "2026-10-27T22:11:57.000Z"
      },
      {
        "outlet": "Business Recorder",
        "title": "Dollar steady ahead of Fed decision, kiwi slumps after RBNZ holds",
        "url": "https://urgent.news/2026/10/28/dollar-steady-ahead-of-fed-decision-kiwi-slumps-after-rbnz-holds",
        "published": "2026-10-28T01:58:20.000Z"
      },
      {
        "outlet": "New Straits Times",
        "title": "Gold edges higher ahead of Fed policy decision",
        "url": "https://urgent.news/2026/10/28/gold-edges-higher-ahead-of-fed-policy-decision",
        "published": "2026-10-28T02:37:16.000Z"
      },
      {
        "outlet": "CoinDesk",
        "title": "Bitcoin nears $81,000 ahead of Fed decision as ZEC jumps 8%",
        "url": "https://urgent.news/2026/10/28/bitcoin-nears-81-000-ahead-of-fed-decision-as-zec-jumps-8",
        "published": "2026-10-28T04:15:20.000Z"
      }
    ]
  },
  "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."
}