# Pound-Dollar Rate Rallies 1% As BoE Fails To Mention Negative Interest Rates | Exchange Rates UK

> The pound rose about 1% against the dollar after the Bank of England's November policy decision, which did not mention negative interest rates. Traders also took comfort from an extension of the furlough scheme to March 2021.

- Date: 2020-11-05 · published 2020-11-05T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/50419-pound-dollar-rate-rallies-1-as-boe-fails-to-mention-negative-interest-rates
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Reduced expectations of negative rates strengthened sterling, which affects GBP-linked pricing but has little direct bearing on feed supply or demand. Dollar weakness from the US election delay adds a small indirect support for dollar-priced commodities.

## Read by commodity

- DXY: bearish ▼
- GBPUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-08-30 | [Pound To Dollar Rate Forecast: Could A Dovish BoE Weigh On GBP/USD Rates This Week? \| Exchange Rates UK](https://feedsoft.ai/events/51866-pound-to-dollar-rate-forecast-could-a-dovish-boe-weigh-on-gbp-usd-rates-this.md) | +0.1% | +1.4% |
| DXY | 2020-03-02 | [Euro Exchange Rate Reaches 5-Week-Best As Rivals Pound Sterling And Dollar See Large Losses \| Exchange Rates UK](https://feedsoft.ai/events/6188-euro-exchange-rate-reaches-5-week-best-as-rivals-pound-sterling-and-dollar-see.md) | -0.8% | +4.0% |
| DXY | 2017-06-29 | [Pound-Dollar exchange rate: Sterling hits one-month high after Mark Carney hints at UK interest rate rise \| The Independent \| The Independent](https://feedsoft.ai/events/70749-pound-dollar-exchange-rate-sterling-hits-one-month-high-after-mark-carney-hints.md) | +0.3% | -1.7% |
| DXY | 2024-08-26 | [Interest rates: US dollar sinks as traders position for rate cuts by the Federal Reserve](https://feedsoft.ai/events/28691-interest-rates-us-dollar-sinks-as-traders-position-for-rate-cuts-by-the-federal.md) | +0.7% | -0.0% |
| DXY | 2020-08-28 | [FED Sparks Currency Rate Moves, Dollar Pares Losses, Pound-Dollar Dips From 2020 Best \| Exchange Rates UK](https://feedsoft.ai/events/51869-fed-sparks-currency-rate-moves-dollar-pares-losses-pound-dollar-dips-from-2020.md) | -0.5% | +1.0% |

## Sources

- exchangerates.org.uk: https://www.exchangerates.org.uk/news/31073/2020-11-05-pound-dollar-rate-rallies-1-as-boe-fails-to-mention-negative-interest-rates.html

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