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Sterling fell to an eight-month low of 1.3050 against the dollar, with GBP/USD trading near 1.3088 during US hours. Bank of England Chief Economist Andy Haldane pointed to UK productivity weakness, while Fed Atlanta president Raphael Bostic spoke the same day.
Haldane said the BoE would need some monetary stimulus even with rate hikes.
Sterling weakness combined with a firm dollar tends to make dollar-priced feed commodities more expensive for UK buyers, while a dovish BoE outlook reduces the likelihood of near-term currency support.
economies.comRami HaddadJun 28, 2018Not 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.
