# Sterling predicted to hit pre-Brexit vote level before the end of 2018

> Sterling traded near $1.40 against the dollar on January 30, 2018, helped by a weaker dollar and rising confidence that the UK will reach a Brexit deal with the EU. A BMO Capital Markets strategist said Prime Minister May lacks the political capital to pursue a hard Brexit, and BMO raised its 12-month GBP/USD forecast to $1.45. The article also flags that the pace of Federal Reserve rate hikes could matter more to the pound than the market expects.

- Date: 2018-01-30 · published 2018-01-30T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/67232-sterling-predicted-to-hit-pre-brexit-vote-level-before-the-end-of-2018
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

A firmer pound and weaker dollar lift the dollar-denominated cost of US feed ingredients for UK and European buyers and shift export competitiveness for US grains. Currency moves of this size affect the relative price of imported feed.

## Read by commodity

- GBPUSD: bullish ▲

## Sources

- cnbc.com: https://www.cnbc.com/2018/01/30/sterling-predicted-to-hit-pre-brexit-vote-level-before-the-end-of-2018.html

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