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Sterling hit a two-week high against a weaker dollar, which was pressured by U.S. election worries. The pound had recovered almost 1% that week after Bank of England Governor Mark Carney agreed to extend his tenure to 2019.
Currency moves in the pound and dollar shift the relative cost of U.S. and UK-bound commodity purchases, with a weaker dollar generally supportive for dollar-priced grain and meal demand.
reuters.comNov 2, 2016Not enough comparable past events yet for a historical read.
After 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.
