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Sterling was steady after Chancellor Rishi Sunak announced plans to borrow nearly £400 billion in the current financial year. The Office for Budget Responsibility forecast an 11.3% contraction in 2020 and 5.5% growth in 2021, with unemployment peaking at 7.5%.
The fiscal plan and weaker growth outlook have limited immediate effect on the pound, so currency-driven commodity pricing is unchanged. The story has no direct link to feed supply or demand.
financialpost.comReutersNov 25, 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.
