◂ Event Timeline

Jul 29, 2021MACROGlobal

Pound highest in over a month as dollar dips on dovish Fed

The pound reached its highest level in over a month against the dollar on July 29, trading at $1.3869 after five straight gains. The dollar weakened after Fed Chair Powell said rate increases were 'a ways away.'

WHY IT MATTERS

A softer dollar from dovish Fed signals tends to support dollar-priced commodities, though the effect on feed markets here is indirect.

AFFECTSDXY▼

SOURCE
euronews.comJul 29, 2021

Price reaction & history

DXY▼bearishSO FAR1d -0.6%5d -0.3%20d +0.4%

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.

Sep 2, 2021Dollar lower after initial claims, euro at one-month high+0.2%
Oct 27, 2023Dollar eases as month-end flows weigh; eyes on Fed and BOJ-0.9%
Jul 31, 2017Pound hits 10-month high of $1.32 on dollar's Trump slump+0.3%
May 31, 2021Dollar set for second consecutive monthly loss vs euro and pound | Euronews-0.2%
Jul 27, 2017Pound hits 10-month high against dollar after Fed caution – as it happened | Business | The Guardian-0.6%

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.

DXY · GP ▸

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