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The article previews currency markets for the week, focusing on the US debt-ceiling talks between President Biden and congressional Republicans. It also covers upcoming PMI business confidence data, which could signal weaker global conditions.
Sterling was trading near $1.243 against the dollar.
Debt-ceiling risk and softer confidence data can lift the dollar and weigh on risk appetite, which indirectly affects dollar-priced commodities.
exchangerates.org.ukTim ClaytonMay 22, 2023After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% 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.
