Loading…
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 was trading around $1.257 on Friday, and money markets expected the Bank of England to cut rates later and by less than the Fed.
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 24, 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.
