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Sterling rose above $1.27 on June 9 mainly because the US dollar weakened, not because of UK-specific news. The pound hit a three-month high in overnight trading as countries eased coronavirus lockdowns and safe-haven demand for the dollar eased.
Dollar-driven moves in cable reflect global risk appetite; the effect on feed commodity prices is indirect and minor.
cnbc.comReutersJun 9, 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.
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.
