# Sterling falls as interest rate outlook and strong dollar weigh

> Sterling fell 0.45% to $1.197 on March 2 as the dollar rallied and speculation grew that the Bank of England might stop hiking rates. Governor Bailey said further increases might be appropriate but that nothing was decided.

- Date: 2023-03-02 · published 2023-03-02T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/37124-sterling-falls-as-interest-rate-outlook-and-strong-dollar-weigh
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger dollar on expectations of tighter policy pressures dollar-denominated commodity prices lower. The effect on feed markets is small.

## Read by commodity

- DXY: bullish ▲
- GBPUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-06-27 | [Sterling Falls As Dollar Rises, Doubts Return Over Interest Rate Rise - Babypips.com](https://feedsoft.ai/events/64782-sterling-falls-as-dollar-rises-doubts-return-over-interest-rate-rise-babypips.md) | +0.0% | -0.3% |
| DXY | 2023-02-02 | [Euro, sterling dip as investors assess rate outlook](https://feedsoft.ai/events/37536-euro-sterling-dip-as-investors-assess-rate-outlook.md) | +1.3% | +2.1% |
| DXY | 2023-06-23 | [Stocks fall, dollar up as investors weigh more rate hikes \| Reuters](https://feedsoft.ai/events/35674-stocks-fall-dollar-up-as-investors-weigh-more-rate-hikes-reuters.md) | +0.6% | -0.7% |
| DXY | 2025-10-21 | [South African rand falls on stronger dollar \| Reuters](https://feedsoft.ai/events/22706-south-african-rand-falls-on-stronger-dollar-reuters.md) | +0.1% | +0.5% |
| DXY | 2017-11-02 | [Pound sterling (GBP) plunges against the dollar (USD) and euro (EUR) as Bank hikes interest rates](https://feedsoft.ai/events/68237-pound-sterling-gbp-plunges-against-the-dollar-usd-and-euro-eur-as-bank-hikes.md) | -0.1% | -1.5% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/sterling-falls-interest-rate-outlook-strong-dollar-weigh-2023-03-02/?taid=6400d99a6d13e70001a98db3

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