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The pound rose about 0.6% against the dollar on January 30 after the BoE held Bank Rate at 0.75% in a knife-edge decision. Several institutions were already selling sterling, and the article expected the gain to unwind as the dollar strengthened on safe-haven demand linked to coronavirus.
A firmer dollar lowers the local-currency cost of US commodity imports for UK buyers and weighs on dollar-denominated grain prices in sterling terms.
poundsterlinglive.comJames SkinnerJan 30, 2020Not 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.
