Loading…
GBP/USD fell to a five-week low of about $1.34 in the week to November 5 after the Bank of England held rates at 0.1% against market expectations of a hike. The Fed's announcement that it would begin tapering its bond purchases also boosted the dollar.
The BoE cut its growth forecasts for 2021 and later quarters.
A stronger dollar and weaker sterling tend to pressure dollar-priced commodities and raise costs for UK importers. The effect on feed prices is marginal.
exchangerates.org.ukAdam SolomonNov 8, 2021Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
