# Sterling hits 10-week high, BoE officials reiterate higher-for-longer stance

> The British pound reached a 10-week high against a weaker US dollar on November 21 after Bank of England Governor Andrew Bailey said the central bank's interest rate stance did not need to change. Bailey told parliament that inflation was on track to return to the 2% target but that price growth could stall at a high level. Sterling was last up 0.2% at $1.2528.

- Date: 2023-11-21 · published 2023-11-21T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/33423-sterling-hits-10-week-high-boe-officials-reiterate-higher-for-longer-stance
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Currency moves of this kind have little direct effect on feed grain or protein prices. They matter to feed buyers only indirectly, through the broader dollar and interest-rate backdrop.

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/sterling-hits-10-week-high-boe-officials-reiterate-higher-for-longer-stance-2023-11-21/

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