# Cracks show in bullish sterling bets before Bank of England rate decision | Reuters

> Traders cut bets on a continued sterling rally ahead of a Bank of England rate decision on Thursday, after UK inflation slowed more than expected in June. Sterling had risen about 24% from a record low against the dollar in September, reaching a 15-month high of $1.314 in mid-July.

- Date: 2023-07-31 · published 2023-07-31T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/35291-cracks-show-in-bullish-sterling-bets-before-bank-of-england-rate-decision
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Currency moves of this kind affect the dollar cost of imported feed ingredients for UK buyers only indirectly, and the story does not point to a specific shift in feed supply or demand.

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/cracks-show-bullish-sterling-bets-before-boe-rate-decision-2023-07-31/

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