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Sterling fell to a 30-month low below $1.21 after a stronger dollar following the Federal Reserve meeting, renewed no-deal Brexit worries and cuts to Bank of England growth forecasts. The BoE held rates at 0.75% but warned of uncertainties from Brexit and the global trading system.
Weaker sterling against the dollar raises the cost of dollar-priced feed inputs for UK buyers. The Brexit-driven move adds volatility to import pricing.
exchangerates.org.ukColin LawrenceJul 31, 2019
forexsites.comTommy WilkesAug 1, 2019Not 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.
