# Sterling rises but set for sharp monthly drop against dollar

> Sterling rose against the dollar on Friday but was set for its sharpest monthly drop since October 2016. The dollar slipped from 20-year highs but was on track for its best month in seven years on growth concerns and a hawkish Federal Reserve.

- Date: 2022-04-29 · published 2022-04-29T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/42085-sterling-rises-but-set-for-sharp-monthly-drop-against-dollar
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

A dollar at multi-year highs raises the cost of dollar-priced feed commodities for non-US buyers, though the effect is mainly on currency rather than crop supply.

## Read by commodity

- DXY: bullish ▲
- GBPUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-07-29 | [Sterling wraps up small monthly loss against the dollar](https://feedsoft.ai/events/40749-sterling-wraps-up-small-monthly-loss-against-the-dollar.md) | -0.2% | +0.8% |
| DXY | 2024-10-28 | [Sterling on track for biggest monthly fall since September 2023 vs dollar](https://feedsoft.ai/events/28096-sterling-on-track-for-biggest-monthly-fall-since-september-2023-vs-dollar.md) | +0.2% | +1.9% |
| DXY | 2016-11-18 | [Dollar index set for biggest 2-week rise in 20 months](https://feedsoft.ai/events/8329-dollar-index-set-for-biggest-2-week-rise-in-20-months.md) | +1.0% | +1.3% |
| DXY | 2022-11-17 | [Dollar rises with bets on hawkish Fed; sterling drops \| Reuters](https://feedsoft.ai/events/38594-dollar-rises-with-bets-on-hawkish-fed-sterling-drops-reuters.md) | +0.4% | -0.6% |
| DXY | 2020-09-17 | [Asian Shares Drop, Dollar Rises On Fed Interest Rate Promise](https://feedsoft.ai/events/51285-asian-shares-drop-dollar-rises-on-fed-interest-rate-promise.md) | +1.6% | +0.6% |

## Sources

- globalbankingandfinance.com: https://www.globalbankingandfinance.com/sterling-set-for-biggest-monthly-drop-since-october-2016-vs-dollar/

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