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GBP/USD climbed to six-week highs near 1.3450 as a sharp fall in oil prices and lower US Treasury yields weakened dollar demand. The dollar index dipped to 101.35, and Pound Sterling gained on expectations of a Bank of England hike this week.
A weaker dollar alongside lower oil prices tends to support dollar-denominated commodity prices and eases import costs for non-US feed buyers, while lower energy costs reduce pressure on feed and freight inputs.
currencynews.co.ukDavid WoodsmithNov 3, 2026After 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.
After 565 past bearish macro events, 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.
