# Sterling plumbs eight-month trough versus dollar

> Sterling fell to an eight-month low of 1.3050 against the dollar, with GBP/USD trading near 1.3088 during US hours. Bank of England Chief Economist Andy Haldane pointed to UK productivity weakness, while Fed Atlanta president Raphael Bostic spoke the same day. Haldane said the BoE would need some monetary stimulus even with rate hikes.

- Date: 2018-06-28 · published 2018-06-28T12:00:00.000Z
- Category: market · region UK · magnitude low
- Page: https://feedsoft.ai/events/64787-sterling-plumbs-eight-month-trough-versus-dollar
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Sterling weakness combined with a firm dollar tends to make dollar-priced feed commodities more expensive for UK buyers, while a dovish BoE outlook reduces the likelihood of near-term currency support.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- economies.com: https://www.economies.com/forex/gbp-usd-news/sterling-plumbs-eight-month-trough-versus-dollar-23479

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