# Sterling pushed down by dollar strength - Business & Finance - Business Recorder

> Sterling fell against a stronger dollar on Oct 29 as the dollar rose about 0.9% when government bonds rallied and traders saw new inflation reports pushing central banks to pull back asset purchases faster. Cable dropped to a two-week low, though sterling gained against the euro after the ECB kept markets expecting a 2022 hike. Traders were pricing a 62% chance of a Bank of England hike at its Nov. 4 meeting.

- Date: 2021-10-29 · published 2021-10-29T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/44804-sterling-pushed-down-by-dollar-strength-business-and-finance-business-recorder
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

For feed buyers the effect is indirect: a firmer dollar and rate-hike expectations tend to weigh on dollar-priced commodities and raise import costs for UK buyers. The move is a currency-market reaction, not a supply change.

## Read by commodity

- DXY: bullish ▲
- GBPUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-05-31 | [Dollar higher - Business & Finance - Business Recorder](https://feedsoft.ai/events/36152-dollar-higher-business-and-finance-business-recorder.md) | -0.5% | -1.0% |
| DXY | 2022-04-29 | [Sterling tumbles to 21-month low - Business & Finance - Business Recorder](https://feedsoft.ai/events/42086-sterling-tumbles-to-21-month-low-business-and-finance-business-recorder.md) | -0.1% | -1.1% |
| DXY | 2021-06-18 | [Fed-fuelled dollar up in Europe - Business & Finance - Business Recorder](https://feedsoft.ai/events/5934-fed-fuelled-dollar-up-in-europe-business-and-finance-business-recorder.md) | -0.2% | +0.4% |
| DXY | 2024-06-22 | [Asian FX muted on robust dollar - Business & Finance - Business Recorder](https://feedsoft.ai/events/30050-asian-fx-muted-on-robust-dollar-business-and-finance-business-recorder.md) | +0.1% | -0.7% |
| DXY | 2021-06-29 | [Dollar rises broadly in Europe - Business & Finance - Business Recorder](https://feedsoft.ai/events/46810-dollar-rises-broadly-in-europe-business-and-finance-business-recorder.md) | +0.8% | +1.1% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40130026

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