# Sterling edges up - Business & Finance - Business Recorder

> Sterling edged up 0.2% against the dollar to $1.27295 on Friday. The Bank of England was expected to hold rates at 5.25% on February 1. Money markets priced a 42% chance of a May cut and a 74% chance of a June cut.

- Date: 2024-01-27 · published 2024-01-27T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/32372-sterling-edges-up-business-and-finance-business-recorder
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Expectations that UK rate cuts are some months away support sterling, which lowers the local-currency cost of dollar-priced feed imports. The move is a modest currency adjustment, not a feed supply event.

## Read by commodity

- GBPUSD: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40285955

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