# Pound that’s ‘cheap as chips’ extends rally to erase 2020 losses - Moneyweb

> Sterling rose as much as 0.2% to $1.3267 after July UK inflation came in above expectations, erasing its 2020 losses against the dollar. Bloomberg reports the dollar's decline is doing most of the work, with the Bloomberg Dollar Spot Index down every month since March.

- Date: 2020-08-19 · published 2020-08-19T12:00:00.000Z
- Category: market · region UK · magnitude low
- Page: https://feedsoft.ai/events/51868-pound-that-s-cheap-as-chips-extends-rally-to-erase-2020-losses-moneyweb
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Broad dollar weakness supports dollar-priced commodities, but this is routine currency coverage with no new feed-specific cause.

## Read by commodity

- DXY: bearish ▼
- GBPUSD: bullish ▲

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news-fast-news/pound-thats-cheap-as-chips-extends-rally-to-erase-2020-losses/

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