# Bank Of England: Pound Tumbles Against Euro And Dollar On Flatlined UK Economic Outlook | Exchange Rates UK

> The pound fell against the euro and dollar on November 2 after the Bank of England held rates at 5.25% and the UK economic outlook was flagged as flat. Sterling was at $1.2225 earlier and retreated to $1.2175, while GBP/EUR fell to near 1.1450. The UK 2-year yield dropped to a four-month low.

- Date: 2023-11-02 · published 2023-11-02T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/33429-bank-of-england-pound-tumbles-against-euro-and-dollar-on-flatlined-uk-economic
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

The sterling move reflects UK monetary and growth expectations rather than anything affecting feed supply or demand. Its relevance to feed buyers is limited to the broader dollar channel.

## Sources

- exchangerates.org.uk: https://www.exchangerates.org.uk/news/39432/2023-11-02-bank-of-england-pound-tumbles-against-euro-and-dollar-on-flatlined-uk-economic-outlook.html

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