Loading…
Sterling was headed for its best monthly gain against the dollar in 2024, rising about 1.7% in May. Traders expect the Bank of England to keep rates high for longer, and UK house prices rose in May after two months of declines.
Expectations of higher UK rates support sterling and reduce the chance of a near-term UK rate cut. Currency moves like this affect UK import costs but do not directly move feed commodity prices.
globalbankingandfinance.comJessica Weisman-PittsMay 31, 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.
