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Sterling traded near $1.40 against the dollar on January 30, 2018, helped by a weaker dollar and rising confidence that the UK will reach a Brexit deal with the EU. A BMO Capital Markets strategist said Prime Minister May lacks the political capital to pursue a hard Brexit, and BMO raised its 12-month GBP/USD forecast to $1.45.
The article also flags that the pace of Federal Reserve rate hikes could matter more to the pound than the market expects.
A firmer pound and weaker dollar lift the dollar-denominated cost of US feed ingredients for UK and European buyers and shift export competitiveness for US grains. Currency moves of this size affect the relative price of imported feed.
cnbc.comSilvia AmaroJan 30, 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.
