# Sterling wraps up small monthly loss against the dollar

> Sterling ended July about 0.1% lower against the dollar after a rally in the dollar following stronger-than-expected US consumer spending and core PCE data. The pound has lost about 10% against the dollar this year amid economic slowdown, rising rates and UK political turmoil. UK consumer lending rose at its fastest pace since 2019 while mortgage approvals fell to their lowest since 2020.

- Date: 2022-07-29 · published 2022-07-29T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/40749-sterling-wraps-up-small-monthly-loss-against-the-dollar
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer dollar and weaker sterling raise the cost of dollar-priced imports for UK buyers, while the broader currency moves have little direct effect on feed grain prices.

## Read by commodity

- DXY: bullish ▲
- GBPUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-04-29 | [Sterling rises but set for sharp monthly drop against dollar](https://feedsoft.ai/events/42085-sterling-rises-but-set-for-sharp-monthly-drop-against-dollar.md) | -0.1% | -1.1% |
| DXY | 2023-10-04 | [Rand falls to lowest level against the dollar in months](https://feedsoft.ai/events/33924-rand-falls-to-lowest-level-against-the-dollar-in-months.md) | -0.8% | +0.0% |
| DXY | 2026-03-27 | [Pound heads for biggest monthly loss against the safe-haven dollar since October \| Reuters](https://feedsoft.ai/events/20428-pound-heads-for-biggest-monthly-loss-against-the-safe-haven-dollar-since.md) | +0.1% | -1.4% |
| DXY | 2022-05-01 | [Sterling falls to 21-month low vs dollar amid growth worries](https://feedsoft.ai/events/42082-sterling-falls-to-21-month-low-vs-dollar-amid-growth-worries.md) | +0.3% | -1.0% |
| DXY | 2023-06-01 | [Why is the US dollar so strong again?](https://feedsoft.ai/events/35846-why-is-the-us-dollar-so-strong-again.md) | -0.9% | -1.2% |

## Sources

- cnbc.com: https://www.cnbc.com/2022/07/29/forex-markets-currencies-federal-reserve-interest-rates-recession.html

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