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Sterling held near a three-month high against the dollar on May 28 after a 0.58% gain the previous day. The move followed a Bank of England policymaker's comment that the central bank was likely to raise rates well into next year.
Traders were also awaiting upcoming U.S. inflation data.
A firmer pound against the dollar tightens the link between BoE policy expectations and currency values, which affects the cost of dollar-priced imports for UK feed buyers. The effect on grain prices is indirect and small.
reuters.comHideyuki SanoMay 28, 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.
