# Factbox: Not so sterling - a history of UK currency crises | Reuters

> Sterling has fallen below $1.21, not far from its 32-year low of early 2017, and has lost over 3% against the dollar in just over a week. The piece recounts past UK currency crises, including the government raising interest rates to 15% to defend the pound.

- Date: 2019-08-01 · published 2019-08-01T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/57844-factbox-not-so-sterling-a-history-of-uk-currency-crises-reuters
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

This is background on currency stress rather than a new shock, so its effect on feed prices is limited to the ongoing sterling weakness.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/article/world/uk/factbox-not-so-sterling-a-history-of-uk-currency-crises-idUSKCN1UR4TK/

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