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Sterling rose after BoE Governor Andrew Bailey described negative interest rates as controversial, reducing market expectations of their introduction. The euro-to-pound rate fell to five-week lows near 0.8940.
MUFG expected the BoE to move to negative rates despite the UK's lead on vaccines.
Lower UK rate expectations weaken the case for sterling-linked capital flows, but the impact on feed commodity prices is negligible. This is currency news with no direct agricultural transmission.
exchangerates.org.ukTim ClaytonJan 12, 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.
