# Dollar retreats from 11-month high; sterling rises after BOE

> The dollar fell from an 11-month high against a basket of major currencies on profit-taking, after the Philadelphia Fed's Mid-Atlantic business index slumped to 19.9 in June from 34.4. Sterling recovered from a seven-month low after BoE chief economist Andy Haldane unexpectedly backed a rate hike. US Treasury yields also dropped, with the 10-year at 2.904%.

- Date: 2018-06-20 · published 2018-06-20T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/64786-dollar-retreats-from-11-month-high-sterling-rises-after-boe
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

A softer dollar supports dollar-priced grains and oilseeds for non-US buyers, while signs of US economic slowing can reduce expectations for future demand for US feed commodities.

## Read by commodity

- DXY: bearish ▼
- GBPUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-08-31 | [Sterling retreats from two-week high, driven by dollar](https://feedsoft.ai/events/45809-sterling-retreats-from-two-week-high-driven-by-dollar.md) | -0.2% | +0.9% |
| 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 | 2026-09-01 | [Sterling hits six-month high against fading dollar](https://feedsoft.ai/events/18143-sterling-hits-six-month-high-against-fading-dollar.md) | -0.6% | +2.1% |
| DXY | 2024-08-19 | [Sterling hits one-month high as Fed rate cut bets weigh on dollar \| Reuters](https://feedsoft.ai/events/29068-sterling-hits-one-month-high-as-fed-rate-cut-bets-weigh-on-dollar-reuters.md) | -0.8% | -0.7% |
| DXY | 2020-08-06 | [Sterling rises to 5-month high - Markets - Business Recorder](https://feedsoft.ai/events/51867-sterling-rises-to-5-month-high-markets-business-recorder.md) | +0.3% | -0.7% |

## Sources

- streetinsider.com: https://www.streetinsider.com/Forex/Dollar+retreats+from+11-month+high%3B+sterling+rises+after+BOE/14328132.html

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