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Sterling's trade-weighted index is up more than 3% this year, close to its highest level in a long period. The commentary attributes this to a high Bank of England terminal rate expectation.
The text is partial and does not give the full argument.
A strong sterling trade-weighted index lowers the sterling cost of imported feed ingredients, which supports UK buyers. The effect on commodity prices is marginal.
reuters.comMike DolanSep 20, 2024Not 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.
