# Sterling hits fresh multi-month lows on dollar and euro - Markets - Business Recorder

> Sterling hit its lowest level in six months against the dollar and in four months against the euro on September 25. Traders had cut expectations for another Bank of England rate hike this year to roughly 40%, after the central bank held rates in its previous meeting.

- Date: 2023-09-25 · published 2023-09-25T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/34356-sterling-hits-fresh-multi-month-lows-on-dollar-and-euro-markets-business
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Falling expectations for UK rate hikes weaken sterling, which shifts the relative cost of dollar-priced feed inputs for UK and European buyers and reinforces dollar strength.

## Read by commodity

- DXY: bullish ▲
- GBPUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-10-27 | [Sterling set for weekly declines on dollar and euro, buffeted - Markets - Business Recorder](https://feedsoft.ai/events/33885-sterling-set-for-weekly-declines-on-dollar-and-euro-buffeted-markets-business.md) | -0.9% | -3.1% |
| DXY | 2024-03-27 | [Asian currencies at multi-month lows against US dollar; stocks mixed - Markets - Business Recorder](https://feedsoft.ai/events/31453-asian-currencies-at-multi-month-lows-against-us-dollar-stocks-mixed-markets.md) | +0.2% | +1.4% |
| DXY | 2021-06-17 | [South Africa's rand hits one-month low on hawkish Fed, stocks fall - Markets - Business Recorder](https://feedsoft.ai/events/46878-south-africa-s-rand-hits-one-month-low-on-hawkish-fed-stocks-fall-markets.md) | +1.1% | +1.7% |
| DXY | 2021-09-28 | [Dollar hits 10-1/2-month high as Treasury yields surge - Markets - Business Recorder](https://feedsoft.ai/events/45256-dollar-hits-10-1-2-month-high-as-treasury-yields-surge-markets-business-recorder.md) | +0.5% | -0.1% |
| DXY | 2023-09-26 | [Sterling nudges at March trough, a year on from ‘mini-budget’ record low - Markets - Business Recorder](https://feedsoft.ai/events/34355-sterling-nudges-at-march-trough-a-year-on-from-mini-budget-record-low-markets.md) | +0.8% | +1.3% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40264970

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