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Bank of America says sterling is taking on 'emerging market' characteristics as the UK economy shrank 0.1% in March and short positions against the pound build. The pound was down about 7% against the dollar year-to-date, trading just below $1.26.
Sterling weakness reflects UK recession risk and currency-driven import cost pressure, with little direct effect on feed commodity prices.
cnbc.comElliot SmithMay 31, 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.
