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The pound plunged against the dollar after the Bank of England held rates but cut UK GDP growth forecasts to 1.3% for 2019 and 2020. The central bank warned sterling could fall further in a no-deal Brexit and put the odds of recession by early 2020 at one in three.
The BoE warning and the no-deal risk point to further sterling weakness, raising the cost of dollar-priced feed imports for UK buyers.
businessinsider.comTheron MohamedAug 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.
