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Sterling held steady after hotter-than-expected US consumer price data for January, with CPI up 7.5% year over year, lifting expectations of faster Federal Reserve rate hikes and pushing the dollar higher. Futures priced a 50% chance of a 50 basis point hike in March.
Stronger US inflation and expected Fed tightening lift the dollar, which can pressure dollar-priced US feed commodities and shift import costs for buyers outside the US.
brecorder.comReutersFeb 10, 2022After 53 past bullish report events, US Dollar (Broad) moved a median +0.1% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.5% 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.
