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Sterling strengthened against the euro and dollar as markets expected further Bank of England rate hikes after UK inflation hit a near 30-year high. Sterling traded near $1.36 while investors sought safe havens after reports of shelling in eastern Ukraine.
Rate-hike expectations and safe-haven flows support the dollar and sterling moves, which feed into import costs for UK feed buyers but have little direct effect on grain prices.
brecorder.comReutersFeb 17, 2022After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% over 20.
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.
