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The dollar advanced on June 29 after US first-quarter GDP growth of 2.0% beat the 1.4% estimate and weekly jobless claims came in below expectations. GBP/USD slid to 1.26 as the US 2-year yield rose to 4.84%.
Fed Chair Powell's remarks had signalled two more likely hikes before rates peak.
Stronger US data and higher Fed rate expectations lift the dollar, which tends to pressure dollar-priced grains, oilseeds and meals in world markets. A firmer dollar also makes US exports less competitive.
poundsterlinglive.comGary HowesJun 29, 2023After 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.
Not 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.
