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Sterling edged lower against the dollar ahead of a week of central bank meetings, including the Bank of England, which markets expect to raise rates by 50 basis points to 4%. Sterling was trading near a seven-month high.
Currency moves in major central banks shift the dollar's strength, which affects the relative cost of US commodity exports; for feed buyers, a firmer dollar tends to pressure grain and meal prices.
globalbankingandfinance.comWanda RichJan 30, 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.
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.
