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Sterling has fallen from recent highs to 1.12 against the euro and 1.2790 against the dollar over the past couple of weeks. The commentary attributes the weakness to investor frustration over the lack of a Brexit deal and conflicting reports on the Irish border.
The author expects further pound weakness if no deal is reached and notes upcoming data releases.
Persistent sterling weakness modestly affects the cost of dollar-priced feed ingredients for UK buyers.
thecurrencyblog.comPrem RajaOct 28, 2018Not enough comparable past events yet for a historical read.
After 129 past neutral macro events, EURUSD moved a median -0.1% over 5 sessions (45% higher; middle half -0.5% to +0.5%), and +0.1% 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.
