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Two-year British gilt yields surged by their largest move since March 2020 as traders bet the Bank of England would raise rates earlier. Sterling gained almost a cent against the dollar.
The BoE would be the first major central bank to hike since the pandemic.
Expected tighter UK monetary policy supports sterling, which strengthens the pound against the dollar and euro. For feed buyers this is a modest currency signal affecting import costs.
reuters.comDavid Milliken, Andy BruceSep 23, 2021After 92 past neutral macro events, Brazilian Real (BRL per USD) moved a median +0.4% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +0.4% over 20.
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.
