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Sterling fell 0.45% to $1.197 on March 2 as the dollar rallied and speculation grew that the Bank of England might stop hiking rates. Governor Bailey said further increases might be appropriate but that nothing was decided.
A stronger dollar on expectations of tighter policy pressures dollar-denominated commodity prices lower. The effect on feed markets is small.
reuters.comHarry RobertsonMar 2, 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.
