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Sterling rose to just below a one-year high against the dollar on May 9, 2023, trading near $1.26. The gain followed a Federal Reserve rate increase and expectations that the Fed may pause.
Markets were awaiting the Bank of England's rate decision the following week.
A firmer pound is a currency move with no direct effect on feed commodity supply or demand.
reuters.comHarry RobertsonMay 9, 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.
