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Sterling was little changed on Tuesday, touching a two-week high of $1.3807 as the dollar weakened after Powell's Jackson Hole comments that tapering could come 'this year'. The dollar then recovered during the session and the pound retreated.
The move reflects dollar swings after the Fed signal, which only indirectly affects dollar-priced feed commodities through currency effects.
reuters.comElizabeth HowcroftAug 31, 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.
