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The pound fell after the Bank of England held policy steady and called the rise in inflation temporary, disappointing investors who expected a more hawkish message. The bank also upgraded its growth and inflation forecasts but gave no new clues on rate hike timing.
Currency moves tied to central bank tone shift dollar strength, which affects dollar-denominated feed ingredient prices for importers. The effect on commodity prices is limited.
poundsterlinglive.comGary HowesJun 24, 2021Not enough comparable past events yet for a historical read.
After 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.
