# GBP/USD Rate Rises As Bank Of England Hint At Interest Rate Increase - Currency Live

> The pound rallied more than 1.2% against the dollar, pushing through $1.2900 toward the $1.300 psychological level after Carney said a rate rise might be necessary. Sterling reached its highest level against the dollar since before the June UK general election. The move followed Carney's suggestion that conditions for tightening are starting to emerge.

- Date: 2017-06-29 · published 2017-06-29T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/70750-gbp-usd-rate-rises-as-bank-of-england-hint-at-interest-rate-increase-currency
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A sharp sterling rally shifts the GBP/USD balance and can alter UK import costs for dollar-denominated commodities. Feed buyers see only a small indirect effect.

## Read by commodity

- DXY: bearish ▼
- GBPUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-10-31 | [GBP/USD: Pound Gains vs Dollar As Fed Cuts Rates - Currency Live](https://feedsoft.ai/events/56803-gbp-usd-pound-gains-vs-dollar-as-fed-cuts-rates-currency-live.md) | -0.1% | +0.8% |
| DXY | 2017-06-28 | [Pound jumps on Bank of England Governor's rate rise hint - BBC News](https://feedsoft.ai/events/70748-pound-jumps-on-bank-of-england-governor-s-rate-rise-hint-bbc-news.md) | +0.1% | -1.9% |
| DXY | 2022-01-31 | [USD/INR: Rupee Rises, GDP Revised Lower - Currency Live](https://feedsoft.ai/events/43419-usd-inr-rupee-rises-gdp-revised-lower-currency-live.md) | -0.8% | -0.7% |
| DXY | 2023-12-14 | [Pound hits $1.27 as Bank of England pushes back against rate cut predictions – business live \| Business \| The Guardian](https://feedsoft.ai/events/32949-pound-hits-1-27-as-bank-of-england-pushes-back-against-rate-cut-predictions.md) | -1.3% | -1.3% |
| DXY | 2018-07-31 | [GBP/USD: Pound Higher vs Dollar As Investors Dump The Greenback - Currency Live](https://feedsoft.ai/events/64274-gbp-usd-pound-higher-vs-dollar-as-investors-dump-the-greenback-currency-live.md) | +0.6% | +0.6% |

## Sources

- currencylive.com: https://currencylive.com/news/100146-gbp-usd-boe-interest-rate/

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