# Brexit Market Turmoil Pummels Pound, British Banks - WSJ

> The pound fell 1.97% against the dollar on Thursday as Brexit uncertainty hit sterling and British banks. The article identifies British banks among the biggest losers from the UK's decision to leave the EU.

- Date: 2018-11-15 · published 2018-11-15T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/62301-brexit-market-turmoil-pummels-pound-british-banks-wsj
- 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 sterling sell-off strengthens the dollar, a modest headwind for dollar-priced grain and oilseed prices, though the move is primarily a currency and financial-sector story.

## Read by commodity

- DXY: bullish ▲
- GBPUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-09-26 | [Bank of England 'will not hesitate' to act as it monitors market turmoil \| Reuters](https://feedsoft.ai/events/39831-bank-of-england-will-not-hesitate-to-act-as-it-monitors-market-turmoil-reuters.md) | +0.2% | +0.6% |
| DXY | 2023-03-15 | [Market bets on big ECB rate hike evaporate on renewed bank turmoil \| Reuters](https://feedsoft.ai/events/10076-market-bets-on-big-ecb-rate-hike-evaporate-on-renewed-bank-turmoil-reuters.md) | -0.1% | -1.2% |
| DXY | 2018-11-12 | [Forex market: Fed, Brexit and dollar in focus](https://feedsoft.ai/events/62251-forex-market-fed-brexit-and-dollar-in-focus.md) | -0.4% | -0.2% |
| DXY | 2024-12-27 | [Won plummets, shares dip as impeachment turmoil rattles markets](https://feedsoft.ai/events/27188-won-plummets-shares-dip-as-impeachment-turmoil-rattles-markets.md) | +0.9% | -0.2% |
| DXY | 2017-02-02 | [British Pound Receives a Reality Check from the Bank of England](https://feedsoft.ai/events/72737-british-pound-receives-a-reality-check-from-the-bank-of-england.md) | -0.2% | +0.4% |

## Sources

- wsj.com: https://www.wsj.com/articles/brexit-market-turmoil-pummels-british-banks-1542286741

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