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The pound touched 1.2500 against the dollar on November 15 after US consumer price data showed headline inflation falling to 3.2% from 3.7%, below expectations. The data triggered a Treasury rally, a fall in yields and a sell-off in the dollar.
Markets also ruled out further Fed rate hikes.
A softer US inflation reading that weakens the dollar tends to support dollar-priced commodities and lowers the cost of holding grain and feed inventories. The effect on UK-specific currency pairs is secondary here.
exchangerates.org.ukTim ClaytonNov 15, 2023Not enough comparable past events yet for a historical read.
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.
