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Citibank kept its GBP/USD target at 1.3500 by October, citing resilient UK data and fiscal and monetary stimulus. The note said the Fed's shift to flexible average inflation targeting weighed on the dollar, which rebounded only briefly.
A weaker dollar and firmer sterling is a macro backdrop that supports dollar-denominated commodity prices. The direct effect on feed markets is modest.
forexcrunch.comFX StreetAug 31, 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.
