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Sterling held steady against the dollar near $1.2832 ahead of the Bank of England decision, while it fell sharply against the yen after the Bank of Japan unexpectedly raised rates. Options volatility on sterling rose to its highest in almost a year, and markets priced about a 63% chance of a BoE cut.
A hawkish BoJ strengthens the yen and can shift Asian demand sentiment for dollar-priced commodities. For feed buyers, the impact runs through currency moves rather than direct supply changes.
kitco.comJul 31, 2024Not enough comparable past events yet for a historical read.
Not 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.
