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Sterling rose as much as 1% to $1.3009 on the Bank of England's quarter-point rate cut, its biggest move since September. Traders scaled back bets on further BoE easing this year, with a pause expected until next year.
Currency moves of this size affect UK import costs for feed ingredients priced in dollars, but the driver is central bank policy rather than agricultural supply.
bloomberg.comGreg RitchieNov 7, 2024After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
