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Sterling steadied against the dollar after US January payrolls rose 304,000, well above expectations of 165,000. The pound had earlier been hit by a weak UK manufacturing PMI.
Brexit no-deal risk remains a key concern.
A strong US jobs print supports the dollar, which tends to pressure dollar-denominated grain and feed prices while lifting import costs for dollar-priced feed in the UK.
exchangerates.org.ukColin LawrenceJan 31, 2019After 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.
