# Are there any positives for the pound ahead of the Bank of England meeting?

> Sterling held up well against the dollar in January, supported by expectations that the Federal Reserve would slow rate hikes after stronger-than-expected US fourth-quarter GDP growth of 2.9%. UK composite PMI fell to 47.8, the lowest in two years, ahead of the Bank of England meeting.

- Date: 2023-01-27 · published 2023-01-27T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/38023-are-there-any-positives-for-the-pound-ahead-of-the-bank-of-england-meeting
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of slower Fed tightening weigh on the dollar, which tends to support dollar-priced commodities; the UK data itself has little feed-market relevance.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-03-10 | [Best day in 5-years for EUR/USD ahead of the March ECB meeting](https://feedsoft.ai/events/9525-best-day-in-5-years-for-eur-usd-ahead-of-the-march-ecb-meeting.md) | +0.2% | -0.5% |
| DXY | 2017-07-16 | [FX Week Ahead: Is It 'End Of Days' For The Greenback? \| Investing.com UK](https://feedsoft.ai/events/70282-fx-week-ahead-is-it-end-of-days-for-the-greenback-investing-com-uk.md) | -0.6% | -0.8% |
| DXY | 2026-01-01 | [Sterling keeps rising after the Bank of England raised the bar on rate cuts](https://feedsoft.ai/events/21759-sterling-keeps-rising-after-the-bank-of-england-raised-the-bar-on-rate-cuts.md) | +0.3% | -1.5% |
| DXY | 2023-03-21 | [Dollar, Sterling Fall Ahead Of Fed, BoE Meetings Amid Banking Stress](https://feedsoft.ai/events/37061-dollar-sterling-fall-ahead-of-fed-boe-meetings-amid-banking-stress.md) | -0.6% | -1.4% |
| DXY | 2021-08-31 | [Euro Looks for Direction on Red-Hot Inflation Ahead of ECB Meeting](https://feedsoft.ai/events/45764-euro-looks-for-direction-on-red-hot-inflation-ahead-of-ecb-meeting.md) | -0.2% | +0.9% |

## Sources

- thearmchairtrader.com: https://www.thearmchairtrader.com/gbp-usd-bank-england-inflation/

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