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Sterling fell from its September 20 peak near $1.3660 to about $1.3220, losing ground in nine of the past twelve sessions. BBH cited a broader dollar recovery, weak UK data and Brexit anxiety as drivers.
Rate expectations stayed elevated, with the December short-sterling yield near 53 bp.
Sterling weakness against a firmer dollar raises the USD-based cost of UK-sourced feed inputs and imports. Grain prices are unaffected in the near term.
octaafrica.netOct 3, 2017Not 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.
