# Expect Pound Sterling Weakness against Euro, Dollar in Wake of Bank of England: CIBC

> CIBC Capital Markets forecasts a 25 basis point Bank of England hike this week, smaller than the 50 basis points the market expects. It expects sterling to weaken against the euro and dollar if it is right.

- Date: 2023-01-31 · published 2023-01-31T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/38020-expect-pound-sterling-weakness-against-euro-dollar-in-wake-of-bank-of-england
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

This is a currency forecast with no direct supply or demand change for feed commodities, so its effect on grain and meal prices is minimal.

## Read by commodity

- EURUSD: bullish ▲
- GBPUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2022-09-28 | [Sterling, euro rally against dollar after Bank of England buys UK bonds](https://feedsoft.ai/events/39830-sterling-euro-rally-against-dollar-after-bank-of-england-buys-uk-bonds.md) | +3.8% | +4.7% |
| EURUSD | 2024-01-31 | [Pound pares advance against Euro and Dollar as investors position for Bank of England By PoundSterlingLIVE](https://feedsoft.ai/events/32370-pound-pares-advance-against-euro-and-dollar-as-investors-position-for-bank-of.md) | -0.9% | -0.0% |
| EURUSD | 2022-12-15 | [Sterling falls against dollar and euro on 'dovish' UK rate hike](https://feedsoft.ai/events/38477-sterling-falls-against-dollar-and-euro-on-dovish-uk-rate-hike.md) | -0.5% | +1.5% |
| EURUSD | 2019-10-18 | [Dollar weak as Brexit deal boosts euro; sterling in check](https://feedsoft.ai/events/56788-dollar-weak-as-brexit-deal-boosts-euro-sterling-in-check.md) | -0.3% | -0.7% |
| EURUSD | 2019-04-12 | [Pound Sterling Forecasts Slashed at ING after Brextension Derails Bank of England](https://feedsoft.ai/events/59849-pound-sterling-forecasts-slashed-at-ing-after-brextension-derails-bank-of.md) | -0.2% | -0.3% |

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/gbp-live-today/18118-pound-to-euro-and-dollar-bank-of-england-cibc

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