# Short-lived sterling rally curtailed by coronavirus and Brexit | Financial Post

> Sterling hit a 16-day low against the dollar after a brief rally following the Bank of England's decision to hold rates and announce no further stimulus. The BoE forecast a 14% contraction in 2020 and a 15% rebound in 2021, and analysts expected asset purchases to be extended.

- Date: 2020-05-07 · published 2020-05-07T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/53389-short-lived-sterling-rally-curtailed-by-coronavirus-and-brexit-financial-post
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

A weaker pound and a deep UK recession outlook point to softer UK demand for imported feed and a firmer dollar relative to sterling.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/short-lived-sterling-rally-curtailed-by-coronavirus-and-brexit

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