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The pound has dropped to $1.215 on September 27, its lowest since March and well below its July peak above $1.31. It is on track for its worst month since the mini-budget turmoil of 2022, with the fall driven by lower interest rate expectations and a resilient US economy.
A weaker pound raises UK inflation pressure and can make dollar-priced imported feed ingredients more expensive for UK livestock and feed buyers.
telegraph.co.ukTim WallaceSep 27, 2023Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
