# Sterling slips as oil slides, US rate hike bets grow | MarketScreener UK

> Sterling fell to a three-week low near $1.327 on July 28 as lower oil prices eased inflation concerns and expectations of a US rate hike supported the dollar. Brent fell 2.6% to $86.08 a barrel after a spike above $100, on hopes for a resolution to the US-Israeli war on Iran. Traders priced a near-certain Fed hike by September.

- Date: 2026-07-28 · published 2026-07-28T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/18614-sterling-slips-as-oil-slides-us-rate-hike-bets-grow-marketscreener-uk
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Lower crude weighs on biofuel and energy-linked feed input costs, while a firmer dollar on Fed hike bets pressures dollar-priced commodities. Oil's swings tied to the Iran conflict continue to drive price volatility.

## Read by commodity

- DXY: bullish ▲
- BRENT: bearish ▼
- GBPUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-01-24 | [Oil falls 2% as Fed rate hike talk spooks risk markets](https://feedsoft.ai/events/43049-oil-falls-2-as-fed-rate-hike-talk-spooks-risk-markets.md) | +2.2% | +6.8% |
| BRENT | 2023-03-07 | [Oil and Gold Prices Slump As Powell Signals Further Rate Hikes to Come - Markets Insider](https://feedsoft.ai/events/36780-oil-and-gold-prices-slump-as-powell-signals-further-rate-hikes-to-come-markets.md) | -6.7% | -0.8% |
| BRENT | 2023-08-16 | [Oil settles lower as China fears, rate hikes counter tight US supply](https://feedsoft.ai/events/34769-oil-settles-lower-as-china-fears-rate-hikes-counter-tight-us-supply.md) | -1.4% | +8.5% |
| BRENT | 2020-04-21 | [Brent oil futures plunge as growing glut feeds market panic](https://feedsoft.ai/events/4477-brent-oil-futures-plunge-as-growing-glut-feeds-market-panic.md) | -17.3% | +61.6% |
| BRENT | 2022-12-15 | [Oil prices slid 2% as dollar firms and central banks hike interest rates](https://feedsoft.ai/events/38152-oil-prices-slid-2-as-dollar-firms-and-central-banks-hike-interest-rates.md) | -2.2% | +1.6% |
| DXY | 2026-09-10 | [Euro slips as dollar rises after ECB rate hike \| MarketScreener](https://feedsoft.ai/events/17698-euro-slips-as-dollar-rises-after-ecb-rate-hike-marketscreener.md) | +0.9% | +2.9% |
| DXY | 2026-06-24 | [Dollar hits 13-month high as rate-hike bets and stock selloff boost demand \| MarketScreener](https://feedsoft.ai/events/19013-dollar-hits-13-month-high-as-rate-hike-bets-and-stock-selloff-boost-demand.md) | -0.1% | -0.4% |
| DXY | 2026-06-18 | [Pound slides to two-month low as dollar jumps and BoE holds rates \| MarketScreener](https://feedsoft.ai/events/19059-pound-slides-to-two-month-low-as-dollar-jumps-and-boe-holds-rates-marketscreener.md) | +1.4% | +1.0% |

## Sources

- uk.marketscreener.com: https://uk.marketscreener.com/news/sterling-slips-as-oil-slides-us-rate-hike-bets-grow-ce7f51dddc89f423

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.