# FOREX-Dollar ascendant; sterling slumps on lower rate expectations, bleak outlook

> The dollar was set for its best week in over a month on November 4, 2022, as expectations grew that US rates could peak higher. Sterling fell after the Bank of England signaled borrowing costs would rise less than investors expected, with the dollar index near 112.90.

- Date: 2022-11-04 · published 2022-11-04T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/38920-forex-dollar-ascendant-sterling-slumps-on-lower-rate-expectations-bleak-outlook
- 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 firmer dollar raises the cost of dollar-priced commodities such as grains and feed for non-US buyers. Sterling weakness adds to UK feed import costs.

## Read by commodity

- DXY: bullish ▲
- GBPUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-11-04 | [Dollar rebounds, sterling slumps, as market resets rate expectations](https://feedsoft.ai/events/44289-dollar-rebounds-sterling-slumps-as-market-resets-rate-expectations.md) | -0.2% | +1.6% |
| DXY | 2022-10-31 | [Dollar gains on Fed rate hike expectations](https://feedsoft.ai/events/39325-dollar-gains-on-fed-rate-hike-expectations.md) | -0.1% | -2.8% |
| DXY | 2019-01-31 | [Pound-to-Dollar Outlook: GBP/USD Exchange Rate Slides As US Payrolls Beat Expectations](https://feedsoft.ai/events/61331-pound-to-dollar-outlook-gbp-usd-exchange-rate-slides-as-us-payrolls-beat.md) | +0.1% | +0.4% |
| DXY | 2023-03-02 | [Sterling falls as interest rate outlook and strong dollar weigh](https://feedsoft.ai/events/37124-sterling-falls-as-interest-rate-outlook-and-strong-dollar-weigh.md) | +0.7% | -0.8% |
| DXY | 2023-05-23 | [Dollar Strengthens Broadly on Fed Rate Expectations \| The Epoch Times](https://feedsoft.ai/events/36139-dollar-strengthens-broadly-on-fed-rate-expectations-the-epoch-times.md) | +0.4% | -1.1% |

## Sources

- finance.yahoo.com: https://finance.yahoo.com/news/forex-dollar-ascendant-sterling-slumps-011722942.html

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