# Dollar gains as FOMC decision looms | Convera

> Sterling slipped back toward $1.26 at the start of the week amid Middle East tensions that lifted safe-haven demand. Traders had trimmed bets on Bank of England easing after stronger inflation and PMI data. The dollar was firm ahead of the FOMC decision.

- Date: 2024-01-30 · published 2024-01-30T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/32344-dollar-gains-as-fomc-decision-looms-convera
- 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 dollar ahead of the Fed decision raises the cost of dollar-denominated feed imports for UK and European buyers. The sterling move is a routine currency fluctuation.

## Read by commodity

- DXY: bullish ▲
- GBPUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-03-15 | [DXY gains on inflation risks as FOMC looms \| Convera](https://feedsoft.ai/events/31470-dxy-gains-on-inflation-risks-as-fomc-looms-convera.md) | +0.5% | +1.1% |
| DXY | 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) | +1.1% | +2.9% |
| DXY | 2022-10-06 | [Analysts cut Canadian dollar forecasts as recession risk looms](https://feedsoft.ai/events/39352-analysts-cut-canadian-dollar-forecasts-as-recession-risk-looms.md) | +0.7% | +1.0% |
| DXY | 2026-07-30 | [British Pound declines as Fed hawkish rate holds boost US Dollar, BoE rate decision looms](https://feedsoft.ai/events/18612-british-pound-declines-as-fed-hawkish-rate-holds-boost-us-dollar-boe-rate.md) | -1.2% | -1.9% |
| DXY | 2025-10-29 | [Dollar drifts higher ahead of Fed decision, Aussie gains on CPI \| MarketScreener](https://feedsoft.ai/events/22662-dollar-drifts-higher-ahead-of-fed-decision-aussie-gains-on-cpi-marketscreener.md) | +1.0% | +0.5% |

## Sources

- convera.com: https://convera.com/blog/market-insights/fx-research/daily-market-updates/dollar-gains-as-fomc-decision-looms/

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