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Sterling rose as much as 0.6% against the euro and touched a 2.5-year high of $1.3686 against the dollar. The gain followed the UK financial regulator allowing UK market participants to use EU trading platforms for swaps for up to three months, which avoids disruption to roughly $200 billion of swaps trading.
A firmer pound lowers the sterling cost of dollar-priced feed and grain imports into the UK. The move is currency-driven, with little direct effect on grain prices.
brecorder.comReutersDec 31, 2020Not 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.
