# Pound hits 15-month high after British jobs data reinforces rate-hike bets

> Sterling rose to a high of $1.2913, its strongest level since April 2022, after British wage data reinforced expectations of further Bank of England rate increases. Markets priced in roughly 140 basis points of additional hikes.

- Date: 2023-07-11 · published 2023-07-11T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/35294-pound-hits-15-month-high-after-british-jobs-data-reinforces-rate-hike-bets
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Stronger sterling driven by rate expectations has little direct effect on feed grain or meal prices, though it can shift the sterling cost of dollar-priced imports.

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/pound-hits-15-month-high-after-british-jobs-data-reinforces-rate-hike-bets-2023-07-11/

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