GBP / USD
“Cable” — the most-watched UK FX pair.
Previous close $1.3533
52-week high
$1.3795
52-week low
$1.3015
YTD change
+0.57%
The 30-second take
Driven by the rate differential between the Bank of England and the Fed, plus UK-specific political risk (Brexit legacy, fiscal credibility). When GBP strengthens, the FTSE 100 tends to weaken — most FTSE revenue is earned overseas in USD, so a stronger pound compresses reported earnings. That inverse correlation is a classic interview point. Watch GBP closely around any BoE decision or UK Budget.
Historical reference points
Bankers instinctively contextualise today's level against these moments. Each row shows how far the current level is above / below that reference.
- Brexit-vote morning24 Jun 2016$1.50-9.76%
- Brexit-vote close24 Jun 2016$1.37-1.20%
- Truss mini-budget lowSep 2022$1.035+30.78%
- Long-run average1999–2015$1.50-9.76%
Compare against
Master the whole framework
The live numbers are one leg. Read the lesson for the four things to always know, plus the full interview script.
Discussing Markets — read the lesson →