# Sterling has second biggest rise in 2018 on Brexit optimism, dollar woes

> Sterling rose on Thursday after reports that London was close to a deal giving UK financial firms basic access to EU markets, though officials later downplayed an imminent agreement. The Bank of England held rates at 0.75% but hinted at faster future rate rises if Brexit goes smoothly, while warning of disruption in a no-deal exit.

- Date: 2018-11-01 · published 2018-11-01T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/62299-sterling-has-second-biggest-rise-in-2018-on-brexit-optimism-dollar-woes
- 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 firmer pound and softer dollar tend to weigh on dollar-priced commodities, including feed grains and meals, while a weaker pound raises UK import costs for feed ingredients.

## Read by commodity

- DXY: bearish ▼
- GBPUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-10-18 | [Dollar weak as Brexit deal boosts euro; sterling in check](https://feedsoft.ai/events/56788-dollar-weak-as-brexit-deal-boosts-euro-sterling-in-check.md) | -0.1% | +0.2% |
| DXY | 2024-09-19 | [Sterling rises vs dollar after Fed; BoE in focus \| Reuters](https://feedsoft.ai/events/28566-sterling-rises-vs-dollar-after-fed-boe-in-focus-reuters.md) | -0.1% | +2.1% |
| DXY | 2020-11-18 | [Sterling pushed up by weaker US dollar, hopes of Brexit deal \| Malay Mail](https://feedsoft.ai/events/50423-sterling-pushed-up-by-weaker-us-dollar-hopes-of-brexit-deal-malay-mail.md) | -0.2% | -2.2% |
| DXY | 2023-03-30 | [Sterling set for biggest monthly gain vs dollar since November](https://feedsoft.ai/events/37118-sterling-set-for-biggest-monthly-gain-vs-dollar-since-november.md) | -0.4% | -0.3% |
| DXY | 2020-06-09 | [Sterling rises above $1.27; driven by dollar moves](https://feedsoft.ai/events/52871-sterling-rises-above-1-27-driven-by-dollar-moves.md) | +1.1% | +0.8% |

## Sources

- uk.finance.yahoo.com: https://uk.finance.yahoo.com/news/pound-extends-rally-report-british-pm-seals-brexit-073401266--sector.html

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