# British Pound 'Underpinned' Near-Term

> Sterling is gaining near-term support after the rally triggered by Carney's comments, with the pound reaching a weekly high of 1.14 against the euro and 1.2976 against the dollar. ING analyst Viraj Patel described the gains as short-term and said it is too early to call a long-term recovery. Markets are reassessing the BoE's policy bias after the Governor's earlier view that it was not yet time to raise rates.

- Date: 2017-06-29 · published 2017-06-29T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/70755-british-pound-underpinned-near-term
- 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

The shift toward a tighter BoE stance is a near-term support for sterling, but the outlook is still uncertain. Feed buyers will see only a minor effect on dollar-denominated costs.

## Read by commodity

- EURUSD: bearish ▼
- GBPUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2020-04-07 | [British pound soars as BOE rules out printing of money](https://feedsoft.ai/events/53876-british-pound-soars-as-boe-rules-out-printing-of-money.md) | +0.9% | +1.0% |
| EURUSD | 2022-12-15 | [Dollar gains after hawkish Fed, pound under pressure from dovish BOE - The Business Times](https://feedsoft.ai/events/38479-dollar-gains-after-hawkish-fed-pound-under-pressure-from-dovish-boe-the.md) | -0.5% | +1.5% |
| EURUSD | 2018-09-30 | [The British Pound, Euro And US Dollar (GBP, EUR, USD) Exchange Rate Forecasts - Brexit Update \| Exchange Rates UK](https://feedsoft.ai/events/63290-the-british-pound-euro-and-us-dollar-gbp-eur-usd-exchange-rate-forecasts-brexit.md) | -1.0% | -2.0% |
| EURUSD | 2023-04-28 | [EUR/USD Rate Forecast: Near-term Peak is Close DNB Bank](https://feedsoft.ai/events/36618-eur-usd-rate-forecast-near-term-peak-is-close-dnb-bank.md) | -0.1% | -2.7% |
| EURUSD | 2018-10-22 | [US dollar rises as pound falls amid Brexit negotiations](https://feedsoft.ai/events/62807-us-dollar-rises-as-pound-falls-amid-brexit-negotiations.md) | -1.1% | -0.6% |

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/gbp-live-today/7072-gbp-to-eur-and-usd-follow-through-strength-carney

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