Currency news / November 12, 2025

GBP slips on leadership challenge

3 min read Thanim Islam

Thanim IslamNovember 12, 2025

Market snapshot:

GBP remains under pressure ahead of GDP numbers
US job losses add to rate cut bets

Yesterday's currency recap

USD slipped after weak ADP data showed private payrolls fell, raising the odds for a December rate cut up to 67%.

GBPUSD recovered on this data point after an earlier drop on higher UK unemployment, but GBP in general finished the day lower. EUR and CHF gained on broad USD softness.

Today's GBP rates

Currency pair	Daily move*	Indicative rate**
GBPAUD	0.14%	2.0183
GBPCAD	-0.14%	1.8447
GBPCHF	-0.70%	1.0532
GBPDKK	-0.35%	8.4824
GBPEUR	-0.35%	1.1359
GBPJPY	-0.15%	202.803
GBPNOK	-0.79%	13.2347
GBPNZD	-0.16%	2.3291
GBPSEK	-0.65%	12.4529
GBPUSD	-0.02%	1.3171

*Daily move - against G10 rates as of 06:00 GMT, 11.11.25
** Indicative rates - interbank rates as of 06:00 GMT, 11.11.25

Today's speeches

GBP: BoE Pill
EUR: ECB Guindos
USD: Fed Williams, Waller, Bostic, Miran and Collins

What we think

GBP getting hit again this morning ahead of GDP numbers tomorrow and rumours of a leadership challenge by Wes Streeting on the PM Keir Starmer. USD is attempting to claw back some of its losses from yesterday. Movements today will be subject to plenty of Fed speak.

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