# Sterling muscled toward two-month lows by robust dollar | Reuters

> Sterling neared a two-month low on June 8 as the dollar strengthened on expectations of US rate hikes and safe-haven demand. Oil prices jumped as much as 5% after Israeli strikes on an Iranian petrochemical plant.

- Date: 2026-06-08 · published 2026-06-08T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/19062-sterling-muscled-toward-two-month-lows-by-robust-dollar-reuters
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Middle East escalation lifts oil and safe-haven demand for the dollar, pressuring sterling and raising energy costs for feed production and transport. The currency and energy channels both feed into imported ingredient prices.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-09-25 | [Sterling treads water at 3-month low after weekly drop on dollar rally \| Reuters](https://feedsoft.ai/events/17738-sterling-treads-water-at-3-month-low-after-weekly-drop-on-dollar-rally-reuters.md) | +1.0% | +0.6% |
| DXY | 2026-01-30 | [Sterling drops as dollar lifted by Fed chair speculation \| Reuters](https://feedsoft.ai/events/21298-sterling-drops-as-dollar-lifted-by-fed-chair-speculation-reuters.md) | +0.9% | +0.3% |
| DXY | 2023-09-25 | [Sterling hits fresh multi-month lows on dollar and euro - Markets - Business Recorder](https://feedsoft.ai/events/34356-sterling-hits-fresh-multi-month-lows-on-dollar-and-euro-markets-business.md) | +0.6% | +1.4% |
| DXY | 2022-09-26 | [Sterling hits all-time low versus broadly stronger dollar \| Reuters](https://feedsoft.ai/events/39829-sterling-hits-all-time-low-versus-broadly-stronger-dollar-reuters.md) | +0.2% | +0.6% |
| DXY | 2022-05-01 | [Sterling falls to 21-month low vs dollar amid growth worries](https://feedsoft.ai/events/42082-sterling-falls-to-21-month-low-vs-dollar-amid-growth-worries.md) | +0.3% | -1.0% |
| BRENT | 2026-09-14 | [Dollar gains as Middle East conflict lifts oil, Fed hike looms By Reuters](https://feedsoft.ai/events/17642-dollar-gains-as-middle-east-conflict-lifts-oil-fed-hike-looms-by-reuters.md) | +0.3% | +5.0% |
| BRENT | 2023-10-04 | [Rand falls to lowest level against the dollar in months](https://feedsoft.ai/events/33924-rand-falls-to-lowest-level-against-the-dollar-in-months.md) | -3.8% | -6.0% |
| BRENT | 2026-02-19 | [Dollar advances after data implies stable labor market \| Reuters](https://feedsoft.ai/events/20506-dollar-advances-after-data-implies-stable-labor-market-reuters.md) | -0.4% | +58.5% |

## Sources

- reuters.com: https://www.reuters.com/business/sterling-muscled-toward-two-month-lows-by-robust-dollar-2026-06-08/

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