# Pound hits $1.27 as Bank of England pushes back against rate cut predictions – business live | Business | The Guardian

> The pound rose to $1.266, its highest in nearly two weeks, as the dollar fell to a four-month low after the Federal Reserve signalled rate cuts. The Bank of England pushed back against expectations of early cuts.

- Date: 2023-12-14 · published 2023-12-14T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/32949-pound-hits-1-27-as-bank-of-england-pushes-back-against-rate-cut-predictions
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar on Fed rate-cut signals typically supports dollar-denominated commodity prices, including feed grains and oilseeds.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-07-27 | [Pound hits 10-month high against dollar after Fed caution – as it happened \| Business \| The Guardian](https://feedsoft.ai/events/70205-pound-hits-10-month-high-against-dollar-after-fed-caution-as-it-happened.md) | -0.6% | -0.5% |
| DXY | 2017-06-29 | [GBP/USD Rate Rises As Bank Of England Hint At Interest Rate Increase - Currency Live](https://feedsoft.ai/events/70750-gbp-usd-rate-rises-as-bank-of-england-hint-at-interest-rate-increase-currency.md) | +0.3% | -1.7% |
| DXY | 2024-09-12 | [Euro gains after ECB rate cut as Lagarde pushes back on October ease](https://feedsoft.ai/events/28525-euro-gains-after-ecb-rate-cut-as-lagarde-pushes-back-on-october-ease.md) | -1.0% | +0.1% |
| DXY | 2022-07-28 | [Dollar Vs Pound: Greenback Could Drop on Big Bank of England Rate Hike - Markets Insider](https://feedsoft.ai/events/40756-dollar-vs-pound-greenback-could-drop-on-big-bank-of-england-rate-hike-markets.md) | -0.3% | +0.2% |
| DXY | 2026-01-01 | [Sterling keeps rising after the Bank of England raised the bar on rate cuts](https://feedsoft.ai/events/21759-sterling-keeps-rising-after-the-bank-of-england-raised-the-bar-on-rate-cuts.md) | +0.3% | -1.5% |

## Sources

- theguardian.com: https://www.theguardian.com/business/live/2023/dec/14/bank-of-england-ecb-interest-rates-inflation-fed-hold-business-live?page=with%3Ablock-657ac7b38f0828e550efa281

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