Loading…
Sterling rose above $1.30 for the first time since July 2023 after UK inflation data proved stickier than expected. Traders cut bets on an August rate cut as the pound benefited from the expectation of higher rates for longer.
Higher UK rates attract capital and lift sterling, which pressures the dollar index lower. Feed buyers see only a small indirect effect through the dollar.
reuters.comAmanda CooperJul 17, 2024Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
