# Sterling gains vs dollar ahead of US inflation data

> Sterling rose 0.1% against the dollar to $1.275 ahead of US inflation data. The data could reinforce expectations that the Federal Reserve will soon begin cutting rates. The pound was also up 0.1% against the euro.

- Date: 2024-01-11 · published 2024-01-11T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/32373-sterling-gains-vs-dollar-ahead-of-us-inflation-data
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of Fed rate cuts tend to weaken the dollar, which can lower the cost of dollar-priced grain and feed imports. The effect is small and depends on the upcoming data.

## Read by commodity

- DXY: bearish ▼
- GBPUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-09-30 | [Dollar gains on euro after inflation data, sterling falls](https://feedsoft.ai/events/39798-dollar-gains-on-euro-after-inflation-data-sterling-falls.md) | -0.2% | -0.3% |
| DXY | 2023-01-10 | [Dollar treads water near 7-month lows ahead of U.S. inflation data](https://feedsoft.ai/events/37697-dollar-treads-water-near-7-month-lows-ahead-of-u-s-inflation-data.md) | -0.8% | +0.2% |
| DXY | 2022-09-12 | [Latam currencies rally as dollar weakens ahead of U.S. inflation data](https://feedsoft.ai/events/39788-latam-currencies-rally-as-dollar-weakens-ahead-of-u-s-inflation-data.md) | +0.9% | +2.8% |
| 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% |
| DXY | 2022-09-09 | [Dollar slides as investors balance positions ahead of U.S. inflation data \| Reuters](https://feedsoft.ai/events/39800-dollar-slides-as-investors-balance-positions-ahead-of-u-s-inflation-data-reuters.md) | +0.2% | +2.1% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/sterling-gains-vs-dollar-ahead-us-inflation-data-2024-01-11/

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