# Pound Sterling A High Risk, High Reward Buy | Exchange Rates UK

> Ofgem announced that the UK energy price cap will rise 80% in October, a move widely expected by markets. Sterling was flat against the dollar while the euro recovered above parity. Attention is on Fed Chair Powell's Jackson Hole speech and the UK government's support plans.

- Date: 2022-08-29 · published 2022-08-29T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/40289-pound-sterling-a-high-risk-high-reward-buy-exchange-rates-uk
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Higher UK energy costs weigh on the UK economy and the pound, and any support package may add inflation and rate pressure. This has little direct effect on feed commodity prices.

## Read by commodity

- GBPUSD: neutral

## Sources

- exchangerates.org.uk: https://www.exchangerates.org.uk/news/36423/2022-08-29-pound-sterling-a-high-risk-high-reward-buy.html

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