# Sterling steadies against dollar, jumps to 16-year high vs yen

> Sterling held steady against the dollar on April 26 after reaching a two-week high, and it hit its highest level against the yen in almost 16 years. The move followed US data showing slower growth and faster inflation, which reinforced expectations that the Federal Reserve would not cut rates before September.

- Date: 2024-04-26 · published 2024-04-26T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/30986-sterling-steadies-against-dollar-jumps-to-16-year-high-vs-yen
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Expectations of a later Fed easing keep the dollar firm, but sterling's gains against the yen reflect broader yen weakness rather than a UK-specific driver. For feed buyers, the effect on grain and meal prices is indirect, through dollar strength and import costs.

## Read by commodity

- GBPUSD: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/sterling-steadies-against-dollar-jumps-16-year-high-vs-yen-2024-04-26/

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