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Sterling hit its highest level against the dollar since the Brexit vote after Bank of England policymaker Gertjan Vlieghe said the moment was approaching when Bank Rate may need to rise. The pound rose more than 1% to $1.3610 and gained about 1.1% against the euro.
Analysts said a rate hike to 0.5% could come as soon as November.
Expected BoE tightening supports sterling, which lowers the sterling cost of dollar-denominated feed ingredients for UK buyers. The effect on feed prices is indirect and comes through currency rather than supply.
bbc.co.ukSep 15, 2017Not enough comparable past events yet for a historical read.
After 129 past neutral macro events, Euro (USD per EUR) 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.
