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GBP/EUR rose to 1.17, its highest since April, after EUR/USD fell below 1.20 following the Fed's shift toward expecting rate rises in 2023. The Fed and Bank of England are now expected to raise rates before the European Central Bank.
Diverging central bank policy paths strengthen the pound and dollar against the euro, which affects the cost of dollar-priced feed imports for euro-zone buyers.
poundsterlinglive.comGary HowesJun 17, 2021After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% 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.
It describes EUR/USD falling below 1.20 after the Fed's hawkish message and the expectation that the ECB would hike after the Fed and BoE, which supports the euro weakness narrative.
