◂ Event Timeline

Sep 28, 2021MACROUK

BoE Rate-Hike Speculation Keeps Sterling Afloat As Yield Trends Dominate Markets

Sterling held firm on 28 September as traders priced in possible Bank of England rate hikes. GBP/USD failed to hold 1.37 amid firm US yields.

Governor Bailey said interest rates could rise before the end of asset purchases.

WHY IT MATTERS

Currency moves are driven by rate expectations and yields rather than agricultural fundamentals. The implication for feed buyers is limited to import cost translation.

AFFECTSUS Dollar (Broad)◆

SOURCE
exchangerates.org.ukTim ClaytonSep 28, 2021

Price reaction & history

US Dollar (Broad)◆neutralSO FAR1d +0.4%5d +0.5%20d -0.1%

After 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.

Feb 17, 2022BoE rate hike bets lift sterling as Ukraine jitters damp risk appeal - Markets - Business Recorder+1.1%
Feb 24, 2022Sterling falls below $1.36 as BoE tries to cool rate-hike bets | Euronews+1.0%
Jun 18, 2020BoE Exchange Rates: Pound Sterling And FTSE 100 Plunge As BoE Expands QE But "Implies Big Slowdown In Growth Rate" | Exchange Rates UK+0.1%
Mar 6, 2019Exchange & Interest Rate Forecasts For Euro, Dollar And Pound Sterling: ING+0.1%
Sep 23, 2021BoE sees growing case for rate rise as inflation to stay higher for longer | Reuters+1.0%

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.

US Dollar (Broad) DXY · GP ▸

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