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The Bank of England became the first major central bank to raise rates since the pandemic, lifting its rate from 0.1%. Sterling rose almost a cent against the dollar to its highest since Nov.
30, and two-year gilt yields climbed as much as 9 basis points.
Tighter UK policy strengthens the pound and can weigh on dollar-priced commodities imported by the UK. For feed buyers the effect is indirect, mainly through sterling-based import costs.
reuters.comDavid Milliken, Andy Bruce, William SchombergDec 16, 2021Not 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.
