# Sterling rises vs dollar after Fed; BoE in focus | Reuters

> Sterling rose against a weakening dollar after the Federal Reserve cut rates by 50 basis points. The pound briefly hit $1.3297, its highest since March 2022. Markets priced a 20% chance of a BoE cut at that week's meeting.

- Date: 2024-09-19 · published 2024-09-19T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/28566-sterling-rises-vs-dollar-after-fed-boe-in-focus-reuters
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer pound and weaker dollar shift the relative price of US-denominated feed commodities for UK and European buyers. The effect on global grain and oilseed prices is limited.

## Read by commodity

- DXY: bearish ▼
- GBPUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-06-20 | [Dollar retreats from 11-month high; sterling rises after BOE](https://feedsoft.ai/events/64786-dollar-retreats-from-11-month-high-sterling-rises-after-boe.md) | -0.3% | -0.3% |
| DXY | 2026-01-23 | [Sterling set for best week against dollar since August after data boost \| Reuters](https://feedsoft.ai/events/21303-sterling-set-for-best-week-against-dollar-since-august-after-data-boost-reuters.md) | -1.5% | -1.0% |
| DXY | 2026-02-23 | [Sterling firms against dollar; tariff fallout, Manchester election in focus \| Reuters](https://feedsoft.ai/events/20862-sterling-firms-against-dollar-tariff-fallout-manchester-election-in-focus.md) | -0.1% | +1.9% |
| DXY | 2025-11-27 | [Dollar set for biggest weekly fall in four months, Fed in focus \| Reuters](https://feedsoft.ai/events/22186-dollar-set-for-biggest-weekly-fall-in-four-months-fed-in-focus-reuters.md) | -0.5% | -1.5% |
| DXY | 2023-11-14 | [Dollar sinks after data shows US inflation cooling \| Reuters](https://feedsoft.ai/events/10100-dollar-sinks-after-data-shows-us-inflation-cooling-reuters.md) | -1.8% | -1.4% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/sterling-rises-vs-dollar-after-fed-boe-focus-2024-09-19/

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