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A Forex.com analyst said the Bank of England could raise its benchmark rate by 50 basis points at its August 4 meeting, the largest increase since 1995. That would take the benchmark to 1.75% and could push the dollar to a near two-month low against sterling.
The move would respond to persistently high UK inflation.
A stronger pound against a weaker dollar would tend to support dollar-priced commodities, but the effect on feed markets would be modest.
markets.businessinsider.comCarla MozéeJul 28, 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.
