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Goldman Sachs strategist Michael Cahill said sterling should remain supported after the Bank of England's 50 basis point hike of June 22. He argued the hike steadied UK bond and currency markets and showed the BoE taking a more proactive stance.
The article notes the decision helped contain the rise in short-term UK bond yields.
A firmer pound lowers the cost of dollar-priced commodities for UK and euro-area buyers, while steadier UK bonds reduce financing pressure. The effect on feed markets is small.
poundsterlinglive.comGary HowesJun 26, 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.
