# Pound-Dollar exchange rate: Sterling hits one-month high after Mark Carney hints at UK interest rate rise | The Independent | The Independent

> Sterling held its gains on Thursday after jumping to a one-month high on Carney's comments hinting at a rate rise. Carney said the clearest signal yet that rates could go up was that removal of stimulus is likely to become necessary. Some analysts now see a possible rate rise as early as the August MPC meeting, and the pound traded just below $1.30.

- Date: 2017-06-29 · published 2017-06-29T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/70749-pound-dollar-exchange-rate-sterling-hits-one-month-high-after-mark-carney-hints
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of earlier BoE tightening strengthen sterling against the dollar, which lowers the cost of dollar-priced commodities for UK buyers. The impact on global feed prices is limited.

## Read by commodity

- DXY: bearish ▼
- GBPUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-01-30 | [Euro Exchange Rates Trade Higher Vs Pound, Dollar After Navarro Comments Dent USD](https://feedsoft.ai/events/73192-euro-exchange-rates-trade-higher-vs-pound-dollar-after-navarro-comments-dent-usd.md) | -1.2% | -1.2% |
| DXY | 2024-08-19 | [Sterling hits one-month high as Fed rate cut bets weigh on dollar \| Reuters](https://feedsoft.ai/events/29068-sterling-hits-one-month-high-as-fed-rate-cut-bets-weigh-on-dollar-reuters.md) | -0.8% | -0.7% |
| DXY | 2020-11-05 | [Pound-Dollar Rate Rallies 1% As BoE Fails To Mention Negative Interest Rates \| Exchange Rates UK](https://feedsoft.ai/events/50419-pound-dollar-rate-rallies-1-as-boe-fails-to-mention-negative-interest-rates.md) | -0.8% | -2.9% |
| DXY | 2023-01-23 | [SCB CIO sees the "baht" reaching 33-34 baht/US dollar at the end of the year. Recommends foreign investment to prevent exchange rate risk - Money & Banking Magazine](https://feedsoft.ai/events/38067-scb-cio-sees-the-baht-reaching-33-34-baht-us-dollar-at-the-end-of-the-year.md) | -0.4% | +1.0% |
| DXY | 2018-06-20 | [Dollar retreats from 11-month high; sterling rises after BOE](https://feedsoft.ai/events/64786-dollar-retreats-from-11-month-high-sterling-rises-after-boe.md) | -0.3% | -0.3% |

## Sources

- independent.co.uk: https://www.independent.co.uk/news/business/news/pound-dollar-exchange-rate-latest-update-sterling-uk-interest-rates-rise-mark-carney-bank-england-a7813871.html

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