# Pound hits highest since Brexit vote on rate rise speech - BBC News

> Sterling hit its highest level against the dollar since the Brexit vote after Bank of England policymaker Gertjan Vlieghe said the moment was approaching when Bank Rate may need to rise. The pound rose more than 1% to $1.3610 and gained about 1.1% against the euro. Analysts said a rate hike to 0.5% could come as soon as November.

- Date: 2017-09-15 · published 2017-09-15T12:00:00.000Z
- Category: macro · region UK · magnitude medium
- Page: https://feedsoft.ai/events/69208-pound-hits-highest-since-brexit-vote-on-rate-rise-speech-bbc-news
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Expected BoE tightening supports sterling, which lowers the sterling cost of dollar-denominated feed ingredients for UK buyers. The effect on feed prices is indirect and comes through currency rather than supply.

## Read by commodity

- EURUSD: neutral
- GBPUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2023-02-02 | [UPDATE 2-Sterling slips after BoE hints rates near peak \| Kitco News](https://feedsoft.ai/events/37574-update-2-sterling-slips-after-boe-hints-rates-near-peak-kitco-news.md) | -1.7% | -2.9% |
| EURUSD | 2024-09-17 | [BNP Paribas says euro could rise, not fall, if recession hits](https://feedsoft.ai/events/28532-bnp-paribas-says-euro-could-rise-not-fall-if-recession-hits.md) | +0.1% | -2.0% |
| EURUSD | 2023-10-26 | [ECB snaps rate-hike streak, pushes back on talk of cuts \| Reuters](https://feedsoft.ai/events/33839-ecb-snaps-rate-hike-streak-pushes-back-on-talk-of-cuts-reuters.md) | -0.4% | +3.3% |
| EURUSD | 2019-03-29 | [UPDATE 1-Sterling falters as PM May puts stripped-down Brexit deal to vote](https://feedsoft.ai/events/60339-update-1-sterling-falters-as-pm-may-puts-stripped-down-brexit-deal-to-vote.md) | -0.2% | -0.9% |
| EURUSD | 2017-04-27 | [Eurozone recovery gathering pace, says Draghi - BBC News](https://feedsoft.ai/events/71690-eurozone-recovery-gathering-pace-says-draghi-bbc-news.md) | +0.4% | +2.8% |

## Sources

- bbc.co.uk: https://www.bbc.co.uk/news/business-41278741

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