# Federal Reserve Lifts GBP/USD Rate into Chart Resistance Near 1.2179

> The Federal Reserve raised its fed funds rate by 75 basis points to 2.25%-2.5%, its second consecutive increase of that size. Chair Powell said future hike sizes would depend on incoming economic data, which eased bond market concerns. GBP/USD recovered to about 1.21 but met technical resistance near 1.22.

- Date: 2022-07-28 · published 2022-07-28T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/40758-federal-reserve-lifts-gbp-usd-rate-into-chart-resistance-near-1-2179
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Signals of smaller future Fed hikes reduce upward pressure on the dollar, which can support dollar-priced commodities, though the direct effect on feed prices is limited.

## Read by commodity

- DXY: neutral
- GBPUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-12-20 | [US Federal Reserve raises rates and trims outlook for 2019 rate increases  \| The National](https://feedsoft.ai/events/61493-us-federal-reserve-raises-rates-and-trims-outlook-for-2019-rate-increases-the.md) | -0.1% | -1.1% |
| DXY | 2025-03-19 | [Federal Reserve cuts US growth forecast as Trump tariff fears increase](https://feedsoft.ai/events/25472-federal-reserve-cuts-us-growth-forecast-as-trump-tariff-fears-increase.md) | +0.5% | -1.4% |
| DXY | 2024-11-20 | [UK inflation jumps to 2.3%, underscoring BoE's stance for gradual rate cuts](https://feedsoft.ai/events/27644-uk-inflation-jumps-to-2-3-underscoring-boe-s-stance-for-gradual-rate-cuts.md) | +0.8% | +1.0% |
| DXY | 2022-09-06 | [Board of Governors of the Federal Reserve System](https://feedsoft.ai/events/39787-board-of-governors-of-the-federal-reserve-system.md) | -0.4% | +2.7% |
| DXY | 2018-09-26 | [Rand Clings on to Week's Gains but Federal Reserve Now Looms Large Over Emerging World](https://feedsoft.ai/events/63340-rand-clings-on-to-week-s-gains-but-federal-reserve-now-looms-large-over.md) | +0.2% | +1.5% |

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/usd/17311-federal-reserve-lifts-pound-to-dollar-rate-into-chart-resistance-at-1-2179

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