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Sterling rose against the dollar after UK retail sales jumped 1.4% on the month, beating forecasts. The pound was also supported by cautious comments from Chicago Fed President Charles Evans, which suggested a slower pace of US rate hikes.
A firmer pound lowers the sterling cost of dollar-priced feed commodities, while the Fed's cautious tone reduces pressure on the dollar.
exchangerates.org.ukColin LawrenceApr 1, 2017After 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.
