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The pound rebounded sharply on March 19 after the Bank of England cut Bank Rate from 0.25% to 0.10% and added £200bn to its quantitative easing program. The central bank said the coronavirus would cause an economic shock that could be sharp and large, and the move came as a response to a bond market rout.
Major central bank easing weakens the dollar relative to sterling and can support commodity prices broadly through a weaker-dollar effect. The scale of QE also signals policymakers' concern about recession, which weighs on demand for animal protein and feed.
poundsterlinglive.comJames SkinnerMar 19, 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.
