# Sterling hits 2-week high against broadly weaker dollar

> Sterling hit a two-week high against a weaker dollar, which was pressured by U.S. election worries. The pound had recovered almost 1% that week after Bank of England Governor Mark Carney agreed to extend his tenure to 2019.

- Date: 2016-11-02 · published 2016-11-02T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/74072-sterling-hits-2-week-high-against-broadly-weaker-dollar
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Currency moves in the pound and dollar shift the relative cost of U.S. and UK-bound commodity purchases, with a weaker dollar generally supportive for dollar-priced grain and meal demand.

## Read by commodity

- DXY: bearish ▼
- GBPUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-09-01 | [Sterling hits six-month high against fading dollar](https://feedsoft.ai/events/18143-sterling-hits-six-month-high-against-fading-dollar.md) | -0.6% | +2.1% |
| DXY | 2025-12-03 | [Euro hits almost seven-week high, dollar broadly lower](https://feedsoft.ai/events/21725-euro-hits-almost-seven-week-high-dollar-broadly-lower.md) | -0.4% | -1.2% |
| DXY | 2019-06-20 | [Sterling heads higher on weaker dollar](https://feedsoft.ai/events/58853-sterling-heads-higher-on-weaker-dollar.md) | -1.1% | -0.8% |
| DXY | 2021-08-31 | [Sterling retreats from two-week high, driven by dollar](https://feedsoft.ai/events/45809-sterling-retreats-from-two-week-high-driven-by-dollar.md) | -0.2% | +0.9% |
| DXY | 2020-07-27 | [Yen rises against weaker dollar](https://feedsoft.ai/events/52345-yen-rises-against-weaker-dollar.md) | -0.8% | -0.9% |

## Sources

- reuters.com: https://www.reuters.com/article/britain-sterling-open-idUSL8N1D31XD/?feedName=usDollarRpt&feedType=RSS

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