# Pound Could Remain Volatile Against Dollar and Euro as New Interest Rate Consensus Develops

> Sterling fell 1.09% against the dollar and 1.29% against the euro after the Bank of England's first hike in a decade. Traders sold the pound as the bank dropped language that rates might rise faster than markets expect.

- Date: 2017-11-02 · published 2017-11-02T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/68240-pound-could-remain-volatile-against-dollar-and-euro-as-new-interest-rate
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Sterling volatility and a firmer dollar feed through to dollar-denominated commodity prices, though the effect on feed markets is indirect.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-11-02 | [Pound sterling (GBP) plunges against the dollar (USD) and euro (EUR) as Bank hikes interest rates](https://feedsoft.ai/events/68237-pound-sterling-gbp-plunges-against-the-dollar-usd-and-euro-eur-as-bank-hikes.md) | -0.1% | -1.5% |
| DXY | 2023-03-15 | [Euro Slumps against Pound and Dollar as European Banking Fears Rise](https://feedsoft.ai/events/10082-euro-slumps-against-pound-and-dollar-as-european-banking-fears-rise.md) | -0.1% | -1.2% |
| DXY | 2024-12-30 | [Dollar gains broadly, slips against yen with interest-rate policy in focus](https://feedsoft.ai/events/27132-dollar-gains-broadly-slips-against-yen-with-interest-rate-policy-in-focus.md) | +0.1% | -0.1% |
| DXY | 2023-05-22 | [Dollar gains against yen as Fed policy and debt ceiling in focus - Reuters](https://feedsoft.ai/events/36140-dollar-gains-against-yen-as-fed-policy-and-debt-ceiling-in-focus-reuters.md) | +0.7% | -0.7% |
| DXY | 2023-05-28 | [The Dollar Is Still King in Europe, and It’s Swaying Interest Rates - WSJ](https://feedsoft.ai/events/36156-the-dollar-is-still-king-in-europe-and-it-s-swaying-interest-rates-wsj.md) | -0.5% | -1.4% |
| EURUSD | 2017-11-02 | [Pound sterling (GBP) plunges against the dollar (USD) and euro (EUR) as Bank hikes interest rates](https://feedsoft.ai/events/68237-pound-sterling-gbp-plunges-against-the-dollar-usd-and-euro-eur-as-bank-hikes.md) | -0.2% | +2.5% |
| EURUSD | 2023-03-15 | [Euro Slumps against Pound and Dollar as European Banking Fears Rise](https://feedsoft.ai/events/10082-euro-slumps-against-pound-and-dollar-as-european-banking-fears-rise.md) | +0.4% | +1.7% |
| EURUSD | 2019-07-25 | [Euro Choppy against Dollar and Pound after ECB Sets Stage for Rate Cuts and QE from September](https://feedsoft.ai/events/58312-euro-choppy-against-dollar-and-pound-after-ecb-sets-stage-for-rate-cuts-and-qe.md) | -0.1% | -0.4% |

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/gbp-live-today/7912-pound-vs-dollar-and-euro-could-be-volatile-in-weeks-ahead-as-new-interest-rate-consensus-develops

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