Dollar hits two week highs as tech volatility and Bank of England decision weigh on markets
The US dollar hit a two-week high today as tech volatility spurred risk aversion. Sterling fell sharply after the Bank of England kept interest rates steady.
Insights:
The Bank of England left UK 
GB interest rates unchanged today, February 5, 2026, following a 5-4 vote by its nine-member rate-setting committee. This narrow decision triggered a swift reaction in the foreign exchange (FX) market, where the dollar rose to two-week highs while the pound and other risk assets fell. The move occurred amid renewed stock volatility tied to tech-sector developments and immediately preceded a European Central Bank policy meeting, leading to notable intraday moves in major currencies, equities, precious metals and cryptocurrencies.
GB interest rates unchanged today, February 5, 2026, following a 5-4 vote by its nine-member rate-setting committee. This narrow decision triggered a swift reaction in the foreign exchange (FX) market, where the dollar rose to two-week highs while the pound and other risk assets fell. The move occurred amid renewed stock volatility tied to tech-sector developments and immediately preceded a European Central Bank policy meeting, leading to notable intraday moves in major currencies, equities, precious metals and cryptocurrencies.
