# Pound dives to lowest since mid-80s as dollar scramble intensifies

> The British pound plunged as much as 5% against the dollar on March 18, falling to $1.1452, its lowest level since 1985. The move came as a global rush for dollars during the coronavirus selloff overshadowed stimulus efforts, and banks borrowed more than $15 billion from the Bank of England's dollar repo operations.

- Date: 2020-03-18 · published 2020-03-18T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/54367-pound-dives-to-lowest-since-mid-80s-as-dollar-scramble-intensifies
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A sharp dollar squeeze strengthens the greenback, which typically pressures dollar-denominated grain and oilseed prices lower while making US exports more competitive. The rush for dollars also reflects broader financial stress that can weigh on commodity demand.

## Read by commodity

- DXY: bullish ▲
- GBPUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-04-27 | [U.S., European shares advance as euro dives to lowest since 2017](https://feedsoft.ai/events/7378-u-s-european-shares-advance-as-euro-dives-to-lowest-since-2017.md) | +0.6% | -0.3% |
| DXY | 2022-09-01 | [Pound Slumps to Fresh Two-year Lows against Dollar](https://feedsoft.ai/events/40290-pound-slumps-to-fresh-two-year-lows-against-dollar.md) | +0.8% | +3.2% |
| DXY | 2023-10-04 | [Rand falls to lowest level against the dollar in months](https://feedsoft.ai/events/33924-rand-falls-to-lowest-level-against-the-dollar-in-months.md) | -0.8% | +0.0% |
| DXY | 2026-06-18 | [Pound slides to two-month low as dollar jumps and BoE holds rates \| MarketScreener](https://feedsoft.ai/events/19059-pound-slides-to-two-month-low-as-dollar-jumps-and-boe-holds-rates-marketscreener.md) | +1.4% | +1.0% |
| DXY | 2018-12-02 | [The baht weakened to 33 baht / dollar, the lowest level around 7 months after the Fed signaled the planned interest. – News – PK Money](https://feedsoft.ai/events/61821-the-baht-weakened-to-33-baht-dollar-the-lowest-level-around-7-months-after-the.md) | +0.2% | -0.6% |

## Sources

- reuters.com: https://www.reuters.com/article/business/healthcare-pharmaceuticals/pound-dives-to-lowest-since-mid-80s-as-dollar-scramble-intensifies-idUSL8N2BB5XC/

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