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Sterling fell about 0.7% to 1.3170 against the dollar after BoE Governor Andrew Bailey said the central bank could become more aggressive in cutting rates if inflation news stayed positive. Analysts linked part of the selloff to geopolitical risk in the Middle East driving investors into the dollar.
Expectations of deeper UK rate cuts weaken sterling and can strengthen the dollar, which tends to pressure dollar-priced grain and meal. The effect on feed markets is limited unless the dollar move broadens.
pilling.co.ukSharecast NewsMar 21, 2020Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
