Loading…
The pound rebounded from multi-month lows against the dollar and euro as investors priced in tighter Bank of England policy. Markets priced an 85% chance of a November BoE hike, and the pound was still on track for a fall of over 2% in September.
Oil and UK gas prices rose more than 3% after Trump rejected an Iranian proposal to reopen the Strait of Hormuz.
Rate-hike bets widen the UK-US rate gap and support sterling, while energy-driven inflation pressure keeps the rate outlook tight. Higher energy prices also raise freight and fertilizer costs for feed supply chains.
lse.co.ukSep 28, 2026Not enough comparable past events yet for a historical read.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% 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.
