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UBS says the British pound remains under pressure despite stronger-than-expected UK inflation and the Bank of England's 25 basis point cut to 4.75% on November 7. Sterling's brief gain above $1.27 was erased as broader dollar strength dominated the GBP/USD pair.
Persistent dollar strength supports US dollar-priced commodity import costs for UK and European feed buyers, and reinforces the case for dollar-linked price pressure on imported feed.
investinglive.comEamonn SheridanNov 22, 2024After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
