# Sterling slips amid Bank of England Brexit warning but European markets stay buoyant

> Sterling fell against the dollar and euro after Bank of England Governor Mark Carney warned that a no-deal Brexit could trigger the worst UK recession since World War II, with output down 8% within a year. He also said the pound could lose 25% against the dollar in a no-deal, no-transition scenario. European equity markets were mixed.

- Date: 2018-11-29 · published 2018-11-29T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/62300-sterling-slips-amid-bank-of-england-brexit-warning-but-european-markets-stay
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Heightened Brexit risk strengthens the dollar relative to sterling, which can pressure dollar-denominated commodity prices and raise the cost of UK-sourced feed inputs.

## Read by commodity

- DXY: bullish ▲
- GBPUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-04-01 | [Dollar outshines euro, sterling amid European bank jitters](https://feedsoft.ai/events/37078-dollar-outshines-euro-sterling-amid-european-bank-jitters.md) | -0.0% | -0.1% |
| DXY | 2020-09-17 | [Sterling slips after dollar rebound; focus on Bank of England \| Financial Post](https://feedsoft.ai/events/51374-sterling-slips-after-dollar-rebound-focus-on-bank-of-england-financial-post.md) | +1.6% | +0.6% |
| DXY | 2022-09-28 | [Bank of England moves to calm bond market rout after tax cut storm](https://feedsoft.ai/events/39828-bank-of-england-moves-to-calm-bond-market-rout-after-tax-cut-storm.md) | -1.8% | -1.5% |
| DXY | 2018-05-30 | [Worsening Italian crisis batters stock markets and euro](https://feedsoft.ai/events/65216-worsening-italian-crisis-batters-stock-markets-and-euro.md) | +0.0% | +1.0% |
| DXY | 2026-06-18 | [VIEW Bank of England leaves rates on hold, sterling falls \| Reuters](https://feedsoft.ai/events/19057-view-bank-of-england-leaves-rates-on-hold-sterling-falls-reuters.md) | +1.4% | +1.0% |

## Sources

- telegraph.co.uk: https://www.telegraph.co.uk/business/2018/11/29/european-markets-buoyant-bank-england-brexit-warning/

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