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Sterling gained 0.49% to $1.3227 after UK inflation data held at 2.2% in August, supporting expectations that the Bank of England would hold rates. The move came ahead of the expected start of US easing that day.
Supermarket sales growth also slowed in the month.
Expectations of BoE policy and a softer dollar shift the cost of dollar-priced feed imports for UK buyers. The effect on global grain prices is minimal.
reuters.comLinda PasquiniSep 18, 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.
