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Sterling dipped 1.1% to $1.2242 and fell to its lowest level against the dollar since the Article 50 process began in March 2017. The drop followed the UK government toughening its rhetoric on a no-deal Brexit, which Michael Gove said was now a very real prospect.
ING analysts said the pound could fall further, toward $1.18.
Currency weakness in sterling tightens UK import costs and adds to broad dollar-strength pressure on commodity-linked currencies. For feed buyers the direct price impact is limited.
bbc.co.ukBBCAug 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.
