# Sterling burns past $1.34 on Bank of England rate hike warning

> Sterling rose above $1.34 for the first time in a year after the Bank of England warned it might raise interest rates for the first time in a decade in the coming months. Only two policymakers voted for an immediate hike, but the currency reversed its initial dip and climbed further after Governor Mark Carney's later remarks, reaching $1.3404.

- Date: 2017-09-14 · published 2017-09-14T12:00:00.000Z
- Category: macro · region UK · magnitude medium
- Page: https://feedsoft.ai/events/69207-sterling-burns-past-1-34-on-bank-of-england-rate-hike-warning
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

A stronger pound lowers UK feed importers' cost of dollar-priced grains and meals such as corn, soybean meal and DDGS. Higher UK rate expectations are a macro driver of sterling rather than a direct grain price factor.

## Read by commodity

- GBPUSD: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/article/uk-britain-markets-boe/sterling-burns-past-1-34-on-bank-of-england-rate-hike-warning-idUKKCN1BP1GU/

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