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Sterling rose against a weakening dollar after the Federal Reserve cut rates by 50 basis points. The pound briefly hit $1.3297, its highest since March 2022.
Markets priced a 20% chance of a BoE cut at that week's meeting.
A firmer pound and weaker dollar shift the relative price of US-denominated feed commodities for UK and European buyers. The effect on global grain and oilseed prices is limited.
reuters.comStefano RebaudoSep 19, 2024Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, DXY 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.
