# A stunning sterling rally is about to collide with Britain's political realities

> Sterling reached its highest level against the dollar in two and a half years after a hawkish Bank of England hold. Investors are waiting for the new Labour government's fiscal plan due at the end of October. Strategists warn the budget could weigh on sentiment.

- Date: 2024-09-23 · published 2024-09-23T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/28569-a-stunning-sterling-rally-is-about-to-collide-with-britain-s-political-realities
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Sterling strength and the coming UK fiscal risk affect the cost of dollar-priced feed imports for UK buyers. The impact on world commodity prices is limited.

## Read by commodity

- GBPUSD: bullish ▲

## Sources

- cnbc.com: https://www.cnbc.com/2024/09/23/a-stunning-sterling-rally-is-about-to-collide-with-britains-political-realities.html

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