# NZ dollar extends gains vs pound on reduced bets BoE will hike next month | BusinessDesk

> The pound fell to its lowest level in almost nine weeks against the dollar after UK first-quarter GDP grew just 0.1%, below the 0.3% forecast. Market odds of a Bank of England rate hike next month fell from 60% to 20%, while US GDP beat estimates at 2.3% annualised.

- Date: 2018-04-29 · published 2018-04-29T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/65768-nz-dollar-extends-gains-vs-pound-on-reduced-bets-boe-will-hike-next-month
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Weaker UK growth and reduced rate-hike expectations strengthen the dollar against sterling, which tends to put downward pressure on dollar-priced commodities.

## Read by commodity

- DXY: bullish ▲
- GBPUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-03-03 | [Euro extends recent fall; dollar gains on data, Powell comments - Business & Finance - Business Recorder](https://feedsoft.ai/events/12081-euro-extends-recent-fall-dollar-gains-on-data-powell-comments-business-and.md) | +0.7% | -0.6% |
| DXY | 2016-10-11 | [Dollar climbs to 7-month peak on rate hike bets; pound plunges](https://feedsoft.ai/events/5892-dollar-climbs-to-7-month-peak-on-rate-hike-bets-pound-plunges.md) | +0.2% | +0.2% |
| DXY | 2021-07-13 | [Pound extends fall after US inflation data lifts dollar - Markets - Business Recorder](https://feedsoft.ai/events/46308-pound-extends-fall-after-us-inflation-data-lifts-dollar-markets-business.md) | +0.7% | +0.6% |
| DXY | 2018-10-17 | [Dollar extends gains as traders await Fed minutes - The Business Times](https://feedsoft.ai/events/62717-dollar-extends-gains-as-traders-await-fed-minutes-the-business-times.md) | +1.1% | +2.3% |
| DXY | 2016-11-30 | [US dollar extends gain against yen after best month since 1995](https://feedsoft.ai/events/74082-us-dollar-extends-gain-against-yen-after-best-month-since-1995.md) | -0.6% | +1.3% |

## Sources

- businessdesk.co.nz: https://www.businessdesk.co.nz/news/nz-dollar-extends-gains-vs-pound-on-reduced-bets-boe-will-hike-next-month/TMRLAONYKBP4JFKDL7XAX26YPA/

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