# British Pound (GBP USD) Tumbles as Rate-Hike Bets Cut on Recession Fears - Bloomberg

> The pound fell nearly 1% against the dollar after a UK private sector growth index unexpectedly slid in May, reviving recession fears. Traders pared bets on further Bank of England rate hikes and moved into government bonds.

- Date: 2022-05-24 · published 2022-05-24T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/41641-british-pound-gbp-usd-tumbles-as-rate-hike-bets-cut-on-recession-fears-bloomberg
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Weaker UK growth data reduces expectations of higher rates and signals softer British demand. Feed price effects are limited.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2022-05-24/pound-tumbles-as-rate-hike-bets-cut-on-renewed-recession-fears

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