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Sterling is holding up because UK interest rates at 5.25% are among the highest in the Group of 10. The Bank of England says inflation is still too far above its 2% target to risk a premature rate cut, and this week's data is unlikely to change that view.
Higher UK rates keep carry-trade demand for sterling firm, which supports GBP against the dollar. For feed buyers the effect on grain and meal prices is indirect and small.
reuters.comAmanda CooperFeb 12, 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.
