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Sterling rose to a high of $1.2913, its strongest level since April 2022, after British wage data reinforced expectations of further Bank of England rate increases. Markets priced in roughly 140 basis points of additional hikes.
Stronger sterling driven by rate expectations has little direct effect on feed grain or meal prices, though it can shift the sterling cost of dollar-priced imports.
reuters.comAlun JohnJul 11, 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.
