# Sterling slides as soft data backs BoE rate view | markets

> Sterling slid on soft UK economic data that backed the view that the Bank of England would hold rates high for longer. The article notes GBP/USD may find support near 1.20.

- Date: 2023-10-25 · published 2023-10-25T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/33888-sterling-slides-as-soft-data-backs-boe-rate-view-markets
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

The move reflects UK rate expectations rather than any change in feed supply or demand. It has little direct price impact on feed commodities.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- markets.com: https://www.markets.com/news/sterling-slides-soft-data-backs-boe-rate-view

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