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Sterling jumped about 1.9% to $1.1487 against the dollar after S&P data showed US house price growth slowed to 13% in the 12 months to August, the sharpest slowdown on record. Economists had expected 14.4%, and they blamed the Federal Reserve's rate increases for pricing buyers out of the market.
A weaker dollar on softer US housing data tends to support dollar-priced commodities such as grains and oilseeds, while a slowing US economy could also reduce demand expectations.
telegraph.co.ukJames WarringtonOct 25, 2022After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
