# Sterling hits one-year high as Bank of England decision nears

> Sterling rose to just below a one-year high against the dollar on May 9, 2023, trading near $1.26. The gain followed a Federal Reserve rate increase and expectations that the Fed may pause. Markets were awaiting the Bank of England's rate decision the following week.

- Date: 2023-05-09 · published 2023-05-09T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/36194-sterling-hits-one-year-high-as-bank-of-england-decision-nears
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

A firmer pound is a currency move with no direct effect on feed commodity supply or demand.

## Read by commodity

- GBPUSD: neutral

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/sterling-hits-one-year-high-bank-england-decision-nears-2023-05-05/?taid=64551d7cf8201900015b642b

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