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Sterling neared a three-month high on November 24 as the dollar retreated broadly and UK bond yields rose after the budget update forecast higher government debt issuance. Consumer confidence also improved in November, though it remained well below pre-COVID levels.
The pound reached $1.2575 on Thursday, and on Friday it traded around $1.257.
The move reflects broad dollar weakness and UK fiscal factors, with no direct link to feed commodity supply or demand. Any effect on feed prices would come only through the dollar.
brecorder.comReutersNov 27, 2023Not 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.
