Sterling and Bitcoin slide as US inflation fuels rate hike fears
The pound dropped against the dollar and Bitcoin slipped below $74,000 after hotter-than-expected US inflation data raised concerns of further interest rate hikes.
The pound dropped against the dollar and Bitcoin slipped below $74,000 after hotter-than-expected US inflation data raised concerns of further interest rate hik Published 2026-11-11 by Falling Shares.
| By Falling Shares Intelligence, edited by Wung Thomas, Editor-in-Chief
Written by Falling Shares Intelligence, our automated newsroom, from the public sources listed below and live market data. Every figure is checked against that material before publication, but the story has not been reviewed by a human editor. Check the linked sources before relying on it, and report errors to info@fallingshares.com.
Sterling fell against the dollar on Wednesday as markets priced in a hawkish Federal Reserve stance, while Bitcoin traded below $74,000. Both assets came under pressure following the release of stronger-than-expected US inflation data, which heightened worries about additional interest rate increases.
Pound weakens on fed hawkishness
The pound dropped against the dollar, according to The Economic Times, as traders adjusted to comments from Federal Reserve officials and recent inflation figures. Despite earlier expectations that hawkish sentiment might support the currency, crude oil prices are rising, a development the report noted could be unfavorable for the pound.
Looking ahead, Britain’s gross domestic product data is scheduled for release soon, with analysts expecting growth in the third quarter. However, skepticism remains high regarding the Bank of England’s ability to meet its inflation targets before 2030, according to the publication.
Bitcoin slides on rate concerns
Bitcoin traded below $74,000 on Wednesday, as reported by marketscreener.com. The cryptocurrency faced pressure after hotter-than-expected US inflation data raised concerns that the Federal Reserve might implement further interest rate hikes.
The data has piled pressure on digital assets, contributing to a low market mood. The move reflects broader sensitivity to US monetary policy signals, which continue to influence risk appetite across global markets.