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Sterling fell 0.2% against the dollar to $1.2671 on Wednesday ahead of Bank of England and Federal Reserve policy decisions. The pound was on track to lose about 0.3% over the month.
Analysts said markets were positioning before the meetings.
A weaker pound against the dollar makes dollar-priced feed imports into the UK costlier in sterling terms. The move is small and reflects positioning rather than a change in fundamentals.
globalbankingandfinance.comJessica Weisman-PittsJan 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.
