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Sterling hit its lowest level in six months against the dollar and in four months against the euro on September 25. Traders had cut expectations for another Bank of England rate hike this year to roughly 40%, after the central bank held rates in its previous meeting.
Falling expectations for UK rate hikes weaken sterling, which shifts the relative cost of dollar-priced feed inputs for UK and European buyers and reinforces dollar strength.
brecorder.comReutersSep 25, 2023Not 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.
