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Goldman Sachs, UBS and Rabobank analysts remain bullish on sterling, which has been one of the best-performing major currencies this year. Goldman keeps a 1.31 target against the dollar, with the pair near 1.28, despite markets pricing a possible Bank of England rate cut in August.
A firmer pound against a weaker dollar slightly lowers the dollar's broad strength, which can modestly support dollar-priced grain and oilseed prices. The effect on feed markets is indirect and small.
cnbc.comGeorge BextorJul 31, 2024Not enough comparable past events yet for a historical read.
After 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.
