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The pound rose against the dollar and euro after official data showed a record UK current account deficit of 51.7 billion pounds in the first quarter. Sterling remained on track for its biggest six-month drop against the dollar since 2016, and the BoE's next scheduled decision is on August 4.
The record deficit highlights UK economic headwinds, but the currency move has little direct effect on feed commodity prices. Its relevance to buyers is limited to general macro sentiment.
brecorder.comReutersJun 30, 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.
