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The pound retreated from recent highs against the euro and dollar as investors took profits ahead of the Bank of England decision on Thursday. GBP/EUR had risen above €1.17 for the first time since September.
Traders expected the Bank to drop its commitment to further hikes.
Expectations of a policy pivot by the Bank of England are shifting sterling exchange rates, which affects the sterling cost of imported feed ingredients. The effect on grain and feed prices themselves is minimal.
uk.investing.comJan 31, 2024Not enough comparable past events yet for a historical read.
After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% 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.
