# Sterling weakens against resurgent dollar - Markets - Business Recorder

> Sterling fell to a three-week low below $1.38 on March 5, after Fed Chair Powell failed to calm concerns about rising US borrowing costs. The safe-haven dollar strengthened as US bond yields rose. Sterling had reached $1.42 in February, its highest since 2018.

- Date: 2021-03-05 · published 2021-03-05T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/48377-sterling-weakens-against-resurgent-dollar-markets-business-recorder
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

A stronger dollar driven by US yields raises the cost of dollar-priced grains and feed ingredients for importers outside the US. The move is a currency story with little direct supply impact.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40070702

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