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Sterling fell to its lowest level since April after Chancellor Reeves signalled tax rises in the upcoming budget. The pound dropped as much as 0.64% to $1.3056 and had its weakest month against the dollar since July.
Fiscal tightening expectations and a weaker pound raise the sterling cost of imported feed inputs priced in dollars.
reuters.comAmanda Cooper, Dhara RanasingheNov 4, 2025Not 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.
