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The pound fell toward 1.3200 against the dollar, retreating from a more-than-two-year high of 1.3266 as the dollar recovered some ground. Traders were focused on the US core PCE inflation data due Friday, with economists expecting annual core inflation to rise to 2.7%, and markets were pricing a likely September Fed cut.
A firmer dollar ahead of key US inflation data can pressure dollar-priced commodities, while the outlook for Fed easing still supports a softer dollar over the medium term.
fxstreet.comSagar DuaAug 28, 2024Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
