# BoE rate hike bets lift sterling as Ukraine jitters damp risk appeal - Markets - Business Recorder

> Sterling strengthened against the euro and dollar as markets expected further Bank of England rate hikes after UK inflation hit a near 30-year high. Sterling traded near $1.36 while investors sought safe havens after reports of shelling in eastern Ukraine.

- Date: 2022-02-17 · published 2022-02-17T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/42941-boe-rate-hike-bets-lift-sterling-as-ukraine-jitters-damp-risk-appeal-markets
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Rate-hike expectations and safe-haven flows support the dollar and sterling moves, which feed into import costs for UK feed buyers but have little direct effect on grain prices.

## Read by commodity

- DXY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-05-12 | [Dollar keeps gains as traders bet Fed headed for a pause - Markets - Business Recorder](https://feedsoft.ai/events/36144-dollar-keeps-gains-as-traders-bet-fed-headed-for-a-pause-markets-business.md) | +0.9% | +0.3% |
| DXY | 2021-03-19 | [Dollar pauses as traders weigh Fed's dovish stance - Markets - Business Recorder](https://feedsoft.ai/events/48315-dollar-pauses-as-traders-weigh-fed-s-dovish-stance-markets-business-recorder.md) | +1.1% | -0.1% |
| DXY | 2022-07-27 | [Dollar slightly lower after Fed hikes by 75 basis points - Markets - Business Recorder](https://feedsoft.ai/events/40681-dollar-slightly-lower-after-fed-hikes-by-75-basis-points-markets-business.md) | -0.7% | +0.2% |
| DXY | 2021-07-13 | [Australia, NZ dollars steady, benefit from weaker US dollar - Markets - Business Recorder](https://feedsoft.ai/events/46321-australia-nz-dollars-steady-benefit-from-weaker-us-dollar-markets-business.md) | +0.7% | +0.6% |
| DXY | 2021-09-28 | [BoE Rate-Hike Speculation Keeps Sterling Afloat As Yield Trends Dominate Markets \| Exchange Rates UK](https://feedsoft.ai/events/45310-boe-rate-hike-speculation-keeps-sterling-afloat-as-yield-trends-dominate.md) | +0.5% | -0.1% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40155140

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