# Sterling retreats from two-week high, driven by dollar

> Sterling was little changed on Tuesday, touching a two-week high of $1.3807 as the dollar weakened after Powell's Jackson Hole comments that tapering could come 'this year'. The dollar then recovered during the session and the pound retreated.

- Date: 2021-08-31 · published 2021-08-31T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/45809-sterling-retreats-from-two-week-high-driven-by-dollar
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

The move reflects dollar swings after the Fed signal, which only indirectly affects dollar-priced feed commodities through currency effects.

## Read by commodity

- DXY: bearish ▼
- GBPUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-06-20 | [Dollar retreats from 11-month high; sterling rises after BOE](https://feedsoft.ai/events/64786-dollar-retreats-from-11-month-high-sterling-rises-after-boe.md) | -0.3% | -0.3% |
| DXY | 2022-12-01 | [Rupee retreats from two-week peak, but closes higher](https://feedsoft.ai/events/38494-rupee-retreats-from-two-week-peak-but-closes-higher.md) | -0.6% | -1.5% |
| DXY | 2016-11-02 | [Sterling hits 2-week high against broadly weaker dollar](https://feedsoft.ai/events/74072-sterling-hits-2-week-high-against-broadly-weaker-dollar.md) | -0.6% | +3.2% |
| DXY | 2020-06-09 | [Sterling rises above $1.27; driven by dollar moves](https://feedsoft.ai/events/52871-sterling-rises-above-1-27-driven-by-dollar-moves.md) | +1.1% | +0.8% |
| DXY | 2019-06-20 | [Sterling heads higher on weaker dollar](https://feedsoft.ai/events/58853-sterling-heads-higher-on-weaker-dollar.md) | -1.1% | -0.8% |

## Sources

- reuters.com: https://www.reuters.com/world/uk/dollar-weakness-pushes-sterling-two-week-high-2021-08-31/?taid=612df0c70595e500018f2f1f

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