EL7.AI
ForexMedium•10 November 2026•
1 min read

GBP Drops Below 1.34 on Hot US CPI and Hawkish Waller Remarks

Key Facts

1The British Pound dropped over 0.40% to 1.3396 against the US Dollar.
2US Core CPI rose 0.3% month-over-month, exceeding the 0.2% forecast.
3Fed Governor Waller suggested a 50-basis-point hike would be warranted if core inflation reached 0.3% month-over-month.

The British Pound dropped over 0.40% to 1.3396 against the US Dollar. FXStreet reported the decline followed data showing the US Core CPI rose 0.3% month-over-month on November 10, 2026, exceeding the 0.2% forecast.

Federal Reserve Governor Christopher Waller suggested that a 50-basis-point interest rate hike would be warranted if core inflation reached the 0.3% threshold. This downward pressure on GBP/USD occurred as the CPI reached 337.511 on November 10, 2026, with the headline monthly inflation rate hitting 0.4%, above the anticipated 0.3%.

The US Producer Price Index (PPI) is scheduled for release on November 13, 2026, with forecasts pointing to a 0.4% month-over-month increase. Traders are also looking toward a speech by Fed Governor Bowman on the same day for further policy guidance.

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