Loading…
GBP/USD rose to 1.3423, its highest level since mid-September, as the dollar index fell to 101.53 when crude oil dropped 6% on Iran's offer to reopen the Strait of Hormuz. Markets priced a Bank of England rate hike to 4.00% at above 90% odds after UK CPI reached 3.5%.
A weaker dollar alongside a sharp fall in crude oil lowers the cost of US-priced commodities for non-dollar buyers and reduces energy-driven feed costs. The move is a currency and energy story with limited direct effect on feed grain prices.
tradingnews.comItai SmidtNov 2, 2026After 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.
Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% 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.
