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GBP/USD fell to a new two-year low near 1.1750 as renewed dollar buying followed a surge in European gas prices and falling global stock markets. The move took sterling to levels last seen in March 2020, and traders are focused on the Jackson Hole symposium.
Safe-haven dollar strength driven by the European energy crisis raises dollar-priced import costs for buyers outside the US. Its direct effect on feed commodities is small.
poundsterlinglive.comGary HowesSep 1, 2022Not 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.
