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Sterling fell to its lowest level since January against the dollar, with GBP/USD touching 1.3716 after underwhelming UK growth and inflation data. Markets unwound bets that the Bank of England would hike rates in May.
A firmer dollar makes US commodities more expensive for non-US buyers and tends to weigh on dollar-denominated grain and meal prices.
exchangerates.org.ukColin LawrenceApr 30, 2018Not 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.
