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Bank of England Governor Andrew Bailey told MPs that a December rate hike remains in play and that all meetings are open to a hike. He called the November hold a very tight call and said the labour market is tightening, with over 1.2 million job vacancies.
The comments lifted sterling after its earlier fall.
Hawkish BoE signals support sterling and reduce the dollar's relative strength, a modest offset for dollar-priced commodities. Feed-market impact is indirect.
poundsterlinglive.comGary HowesNov 15, 2021Not enough comparable past events yet for a historical read.
After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% 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.
