# Sterling drops more than 1%

> Sterling fell more than 1% against the dollar and euro on 28 September as US Treasury yields surged after Fed Chair Powell signalled concern about inflation. UK gas shortages and fears of stagflation also weighed on the pound.

- Date: 2021-09-28 · published 2021-09-28T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/45308-sterling-drops-more-than-1
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A firmer dollar driven by rising US yields tends to pressure dollar-denominated grain and feed prices in the short run. The move is macro-driven rather than a direct feed supply signal.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-04-28 | [Yen slumps more than 1% after BoJ decision \| Convera](https://feedsoft.ai/events/36632-yen-slumps-more-than-1-after-boj-decision-convera.md) | -0.3% | +1.2% |
| DXY | 2023-05-31 | [German inflation drops to lowest level in more than a year](https://feedsoft.ai/events/36151-german-inflation-drops-to-lowest-level-in-more-than-a-year.md) | -0.5% | -1.0% |
| DXY | 2024-10-03 | [Sterling drops on Bailey remarks and shift to safe havens](https://feedsoft.ai/events/28094-sterling-drops-on-bailey-remarks-and-shift-to-safe-havens.md) | +1.1% | +2.7% |
| 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 | 2024-01-31 | [Sterling slips vs dollar before BoE and Fed meetings](https://feedsoft.ai/events/32368-sterling-slips-vs-dollar-before-boe-and-fed-meetings.md) | +0.3% | +0.4% |
| EURUSD | 2023-05-31 | [German inflation drops to lowest level in more than a year](https://feedsoft.ai/events/36151-german-inflation-drops-to-lowest-level-in-more-than-a-year.md) | -0.3% | +1.7% |
| EURUSD | 2024-10-03 | [Sterling drops on Bailey remarks and shift to safe havens](https://feedsoft.ai/events/28094-sterling-drops-on-bailey-remarks-and-shift-to-safe-havens.md) | -0.9% | -1.8% |
| EURUSD | 2024-09-23 | [Euro drops as glum PMI readings stoke bets on more ECB easing  - The Business Times](https://feedsoft.ai/events/28529-euro-drops-as-glum-pmi-readings-stoke-bets-on-more-ecb-easing-the-business-times.md) | 0.0% | -3.0% |

## Sources

- rte.ie: https://www.rte.ie/news/business/2021/0928/1249507-sterling-drops-more-than-1/

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