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Sterling slipped back toward $1.26 at the start of the week amid Middle East tensions that lifted safe-haven demand. Traders had trimmed bets on Bank of England easing after stronger inflation and PMI data.
The dollar was firm ahead of the FOMC decision.
A firmer dollar ahead of the Fed decision raises the cost of dollar-denominated feed imports for UK and European buyers. The sterling move is a routine currency fluctuation.
convera.comIngmar ApinisJan 30, 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.
