# Sterling hits 10-week low as rate hike expectations take a hit - Markets - Business Recorder

> Sterling fell to a 10-week low on August 25, 2023, after weak UK PMI data and soft retail sales reduced expectations for further Bank of England rate hikes. The pound was last down 0.1% at $1.2591.

- Date: 2023-08-25 · published 2023-08-25T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/34830-sterling-hits-10-week-low-as-rate-hike-expectations-take-a-hit-markets-business
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

A weaker pound on rate-expectation shifts has little direct effect on feed commodity balances, though a firmer dollar can marginally pressure dollar-denominated grain prices.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40259801

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