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Sterling fell against the dollar on December 20 after UK consumer price inflation for November came in at 3.9%, below the 4.4% forecast. Investors raised bets on Bank of England rate cuts in 2024.
Expectations of lower UK rates weigh on sterling, a macro move with only a marginal, indirect effect on feed commodity prices.
barrons.comDec 20, 2023After 2,356 past bullish macro events, DXY 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.
