Sterling fell against the U.S. dollar Monday as investors looked toward a Federal Reserve policy decision and the U.K. Budget, both scheduled for Oct. 28.
Reuters reported GBP/USD at $1.3348 at 6:48 a.m. ET (10:48 UTC), down 0.15%. FXStreet's account placed Monday's intraday low below $1.3350, roughly half a percent beneath the prior week's $1.3419 high.
FXStreet said traders had unwound some short-dollar positions ahead of the Federal Reserve meeting, a shift that supported the U.S. currency against sterling. Reuters described investor caution as the U.K. Budget and a week of central-bank decisions approached. It also reported that the euro edged higher against the dollar.
The Federal Reserve's calendar lists a meeting of its Federal Open Market Committee (FOMC) for Oct. 27-28. The committee's decision is scheduled for 2 p.m. ET (18:00 UTC) Oct. 28, followed by a news conference at 2:30 p.m. ET (18:30 UTC). On Sept. 16, the FOMC raised its target range by 25 basis points, to 3.75%-4.00%.
HM Treasury lists the U.K. Budget for Oct. 28. The Office for National Statistics (ONS) reported that consumer price inflation was 3.5% in the 12 months to September, up from 3.1% in the 12 months to August.
The Bureau of Economic Analysis (BEA) has scheduled its September 2026 Personal Income and Outlays report for Oct. 29 at 8:30 a.m. ET (12:30 UTC); the release includes personal consumption expenditures price-index data. The Bank of England lists its next policy announcement for Nov. 5 and its current Bank Rate at 3.75%.
