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Sterling fell against the euro and the dollar on March 28 after Bank of England Governor Andrew Bailey's Brussels speech repeated the cautious tone of the March rate decision. Money markets priced about 135 basis points of hikes by year-end, and 10-year Treasury yields above 2.5% lifted the dollar.
The pound fell 0.8% to $1.3075.
Reduced expectations for BoE tightening weigh on sterling and support the dollar, which can shift import costs for UK and European feed buyers. The move is a currency story with limited direct effect on grain or oilseed prices.
globalbankingandfinance.comJessica Weisman-PittsMar 28, 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.
