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Sterling traded lower near 1.3444 against the dollar on July 31 as markets reduced their bets on a Bank of England rate hike for September. Deutsche Bank said the implied probability of a September move fell from 60% to 30%.
Bailey said a hike would likely be needed if second-round inflation effects emerge.
The move reflects changing rate expectations rather than any change in feed supply or demand. It is a minor input to currency-driven import costs for UK buyers.
fxstreet.comSagar DuaJul 31, 2026Not enough comparable past events yet for a historical read.
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.
