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Sterling turned slightly lower against a recovering dollar on May 19 and hit a one-week low against the euro. The move followed April UK consumer price data showing inflation rose to 1.5%, above the 1.4% Reuters poll forecast.
The BoE expects inflation to reach 2.5% by late 2021.
Higher UK inflation and firmer dollar demand weigh on sterling, raising import costs for UK buyers of dollar-priced feed. The effect on grain markets is small.
financialpost.comReutersMay 19, 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.
