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GBP/USD fell from 1.4237 to 1.4000 the previous week and traded near a one-month low of 1.3921 this week. The decline followed weaker-than-expected UK inflation and reduced bets on a May Bank of England rate hike, while the dollar strengthened on a rising US economic outlook.
A stronger dollar against sterling makes US commodities pricier for non-US buyers, which can weigh on dollar-denominated feed prices.
exchangerates.org.ukColin LawrenceApr 24, 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.
