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A Convera FX note says sterling's year-to-date gain of about 8% against the dollar has been driven largely by broad dollar weakness, but also by idiosyncratic factors such as UK trade deals and resilient data. Markets price about 56 basis points of BoE cuts over 12 months versus 60 from the ECB.
The note points to a continued policy-rate gap favouring sterling, which supports a firmer pound and cheaper dollar-priced imports for UK feed buyers.
convera.comGeorge VesseyMay 28, 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.
