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The dollar rose on bets that the Fed will keep tightening, while sterling fell. St. Louis Fed President James Bullard indicated the policy rate may need to reach roughly 5% or higher, and the federal funds rate currently sits at 3.75%-4.00%.
Expectations of a higher U.S. policy rate support the dollar, which lowers dollar-priced commodity values and raises import costs for non-U.S. buyers. A firmer dollar also tends to pressure sterling-linked trade flows.
reuters.comNov 17, 2022After 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.
