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Sterling fell against the dollar on July 13 after US CPI rose 0.9% in June, the largest monthly gain since 2008, with core CPI up 4.5% year on year. The greenback rose to a six-day high as markets brought forward US rate hike expectations.
A strong dollar driven by inflation and rate expectations pressures dollar-denominated commodity prices and can weigh on US export competitiveness.
brecorder.comReutersJul 13, 2021After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
