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Sterling fell more than 2% against the dollar to $1.23615 after the Bank of England raised rates to their highest since 2009 but warned of recession risk. It was on track for its biggest one-day drop since March 2020.
A sharp sterling drop reflects a tightening BoE alongside weak growth, which can weigh on UK livestock and feed demand. The impact on global feed grain prices is modest.
reuters.comSamuel IndykMay 5, 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.
