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The dollar rebounded and sterling fell about 1.3% to $1.3502 after the Bank of England kept rates unchanged at 0.1%, its weakest against the dollar since October 1. The Fed's policy signals had initially lifted the dollar.
The BoE kept the prospect of tighter policy alive.
A firmer dollar tends to weigh on US dollar-denominated grain, oilseed and meal prices and makes US exports dearer for UK and European buyers. The effect on feed prices from this sterling move is small.
reuters.comJohn MccrankNov 4, 2021After 2,356 past bullish macro events, DXY moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Not 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.
