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Sterling rose about 0.5% to $1.3781 on Friday, its highest since August 18, after Fed Chair Powell's Jackson Hole remarks gave no firm timing for tapering and were read as more dovish than expected. The pound was set for a 1% weekly gain.
The move is driven by dollar weakness rather than UK fundamentals, so it has little direct bearing on feed commodity prices; a softer dollar can modestly support dollar-priced grains and meal.
brecorder.comReutersAug 27, 2021Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, DXY 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.
