# Pound plunges after BoE’s dovish tone - FTAdviser

> Sterling fell about 0.5% against the dollar and euro after the Bank of England kept rates at 0.1% and described current inflation as transitory. Markets had expected a more hawkish tone following the Federal Reserve's signal of earlier rate hikes.

- Date: 2021-06-24 · published 2021-06-24T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/46820-pound-plunges-after-boe-s-dovish-tone-ftadviser
- 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 weaker pound and firmer dollar can make US dollar-priced feed commodities relatively cheaper for UK and European buyers while pressuring US export competitiveness, a modest influence on grain and meal pricing.

## Read by commodity

- DXY: bullish ▲
- GBPUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-12-15 | [Dollar gains after hawkish Fed, pound under pressure from dovish BOE - The Business Times](https://feedsoft.ai/events/38479-dollar-gains-after-hawkish-fed-pound-under-pressure-from-dovish-boe-the.md) | +0.4% | -2.2% |
| DXY | 2026-02-05 | [U.S. dollar hits two-week high, pound slumps after BoE holds rates](https://feedsoft.ai/events/20865-u-s-dollar-hits-two-week-high-pound-slumps-after-boe-holds-rates.md) | -0.7% | +1.1% |
| DXY | 2017-11-03 | [British Pound Tanks Vs Euro, Dollar Exchange Rates After BoE Hike - ING Exchange Rate Forecast](https://feedsoft.ai/events/68239-british-pound-tanks-vs-euro-dollar-exchange-rates-after-boe-hike-ing-exchange.md) | +0.0% | -1.0% |
| DXY | 2025-09-18 | [Pound and gilts fall after shrugging off BoE balancing act](https://feedsoft.ai/events/23144-pound-and-gilts-fall-after-shrugging-off-boe-balancing-act.md) | +0.8% | +1.3% |
| DXY | 2017-02-09 | [U.S. dollar, bond yields rise after Trump promises tax plan](https://feedsoft.ai/events/72685-u-s-dollar-bond-yields-rise-after-trump-promises-tax-plan.md) | +0.1% | +0.7% |

## Sources

- ftadviser.com: https://www.ftadviser.com/content/cb639b29-d8e1-501a-9a6f-b812c4e77e53

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