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The dollar fell to a 12-week low after the Federal Reserve held rates steady and gave no firm signal on a March hike. Sterling fell after the Bank of England kept policy unchanged, and the euro traded near $1.08.
A weaker dollar supports dollar-priced commodities and can lift export demand, while the reduced rate-hike expectations ease pressure on commodity prices.
moneyweb.co.zaMarc Jones, ReutersFeb 2, 2017After 1,637 past bearish macro events, DXY 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.
