# Gloomy UK economic outlook pushes battered sterling to fresh lows

> The British pound fell to its lowest level since March 2020, around $1.165, after Goldman Sachs downgraded its UK forecasts. Sterling has slumped more than 13% against the dollar this year. Ofgem also said British energy bills will rise 80% from October.

- Date: 2022-08-29 · published 2022-08-29T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/40285-gloomy-uk-economic-outlook-pushes-battered-sterling-to-fresh-lows
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

A weaker pound raises the sterling cost of imported feed ingredients and can add pressure to UK feed and livestock margins. The direct effect on global feed prices is limited.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/us/gloomy-uk-economic-outlook-pushes-battered-sterling-fresh-lows-2022-08-29/

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