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Ofgem announced that the UK energy price cap will rise 80% in October, a move widely expected by markets. Sterling was flat against the dollar while the euro recovered above parity.
Attention is on Fed Chair Powell's Jackson Hole speech and the UK government's support plans.
Higher UK energy costs weigh on the UK economy and the pound, and any support package may add inflation and rate pressure. This has little direct effect on feed commodity prices.
exchangerates.org.ukJames ElliotAug 29, 2022Not 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.
