I see that most people here claim that it doesn't effect. I don't know what it is based on, other than personal experience. On the contrary literally EVERY study I have read shows that it does change for a lot of people. In most studies an average of about 30%! Reported a shift in their sexuality. Sometimes radically. I can't post links here so just look up a blog named "A.E.Brain" there under the page "Transsexual and Intersex Gender Identity" they link to several scientific studies that showed a shift in sexuality during transition.
I have also read in several books from trans professionals who reported a shift in sexuality. Jennifer Boylan in her book "She's Not There: A Life in Two Genders" (one of the best mtf books ever!), writes that she suddenly started finding guys a lot more cute and attractive, and was wondering where these guys were before that...
Medically, they are several explanations to that. Mainly that hrt changes the sensitivity to the smell of the opposite gender, which can result in arousal, attracting
them.to you, or the other way around.