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Sterling held near $1.3228 on Wednesday in thin August trading after UK annual CPI rose to 1.0% in July from 0.6%, above Reuters poll forecasts. The pound stayed close to an eight-month high as the weaker dollar drove currency moves.
A firmer pound against a weaker dollar mainly reflects dollar weakness, which tends to support USD-priced commodities and can lift US export competitiveness in pound-linked trade. The inflation surprise has little direct grain or feed price impact.
brecorder.comReutersAug 19, 2020After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Not enough comparable past events yet for a historical read.
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.
