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The pound hit two-week lows near 1.2810 before recovering to 1.2850 against the dollar. Chancellor Reeves cited a £22bn gap in government finances, prompting investment cuts and concerns about tax rises in the October budget.
Fiscal worries weigh on sterling and can lift the dollar relative to the pound. Feed buyers see only a marginal indirect effect on dollar-priced commodities.
currencynews.co.ukJohn CameronJul 31, 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.
