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A Reuters poll found sterling, down nearly 12% against the dollar this year, is likely to recover about half those losses over the next 12 months. The forecast is based on expected further Bank of England rate hikes.
The BoE has raised rates five times since December, with smaller 25 basis point moves compared with the Fed's 75 basis point hikes.
The poll points to a firmer pound against the dollar, which would slightly reduce the local-currency cost of dollar-priced feed imports for UK buyers over the year.
reuters.comJonathan CableJul 6, 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.
