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Sterling rose about 0.7% against a broadly weaker dollar to around $1.2034 on Tuesday, while falling 0.3% against the euro. Data showed the cost-of-living squeeze had not yet reduced demand for staff in Britain.
The Bank of England has raised rates five times since December to fight inflation.
A weaker dollar tends to support commodity prices priced in dollars, but this is a routine currency move with no direct feed supply impact.
reuters.comLucy RaitanoJul 19, 2022Not enough comparable past events yet for a historical read.
After 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.
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.
