# GBP/USD Tests One-year High Following PCE Inflation Data Goes the Fed's Way

> The pound rallied to retest one-year highs against the dollar after US PCE inflation fell to 4.2% in March, its lowest since May 2021. Weaker consumer sentiment and a stronger Chicago business barometer also weighed on the dollar.

- Date: 2023-04-28 · published 2023-04-28T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/36668-gbp-usd-tests-one-year-high-following-pce-inflation-data-goes-the-fed-s-way
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

A softer dollar on easing US inflation expectations can modestly support dollar-denominated commodity prices.

## Read by commodity

- DXY: bearish ▼
- GBPUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-08-31 | [What Does the Higher Eurozone Inflation Have in Store for the EUR/USD?](https://feedsoft.ai/events/45766-what-does-the-higher-eurozone-inflation-have-in-store-for-the-eur-usd.md) | -0.2% | +0.9% |
| DXY | 2022-11-10 | [AUD lurches higher following softer US inflation pressures - OFX](https://feedsoft.ai/events/38928-aud-lurches-higher-following-softer-us-inflation-pressures-ofx.md) | -1.6% | -2.8% |
| DXY | 2020-08-31 | [Dollar hits two-year low, fourth month of losses on Fed inflation mandate](https://feedsoft.ai/events/51844-dollar-hits-two-year-low-fourth-month-of-losses-on-fed-inflation-mandate.md) | +0.1% | +1.4% |
| DXY | 2023-04-11 | [Latam FX at 5-year high as dollar dips ahead of U.S. inflation data \| Financial Post](https://feedsoft.ai/events/36626-latam-fx-at-5-year-high-as-dollar-dips-ahead-of-u-s-inflation-data-financial.md) | -0.4% | -1.0% |
| DXY | 2025-09-17 | [Ringgit ends near one-year high vs US$ on Fed cut hopes \| The Star](https://feedsoft.ai/events/23162-ringgit-ends-near-one-year-high-vs-us-on-fed-cut-hopes-the-star.md) | +0.4% | +1.5% |

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/usd/18606-pound-to-dollar-rate-rallies-after-u-s-data-shows-fed-nearing-dry-land

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