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Sterling edged up 0.2% against the dollar to $1.27295 on Friday. The Bank of England was expected to hold rates at 5.25% on February 1.
Money markets priced a 42% chance of a May cut and a 74% chance of a June cut.
Expectations that UK rate cuts are some months away support sterling, which lowers the local-currency cost of dollar-priced feed imports. The move is a modest currency adjustment, not a feed supply event.
brecorder.comReutersJan 27, 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.
