# Sterling sinks to $1.21 as BoE cuts growth forecasts before Brexit: Reuters - Forexsites

> Sterling fell to a 30-month low below $1.21 after a stronger dollar following the Federal Reserve meeting, renewed no-deal Brexit worries and cuts to Bank of England growth forecasts. The BoE held rates at 0.75% but warned of uncertainties from Brexit and the global trading system.

- Date: 2019-07-31 · published 2019-07-31T12:00:00.000Z
- Category: macro · region UK · magnitude medium
- Page: https://feedsoft.ai/events/57843-sterling-sinks-to-1-21-as-boe-cuts-growth-forecasts-before-brexit-reuters
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Weaker sterling against the dollar raises the cost of dollar-priced feed inputs for UK buyers. The Brexit-driven move adds volatility to import pricing.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- exchangerates.org.uk: https://www.exchangerates.org.uk/news/26705/pound-us-dollar-exchange-rate-edges-higher-as-uk-consumer-confidence-improves.html
- forexsites.com: https://www.forexsites.com/sterling-sinks-to-1-21-as-boe-cuts-growth-forecasts-before-brexit-reuters/

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