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The pound rose nearly 1% against the dollar to about $1.2936 after Bank of England Governor Mark Carney said some removal of monetary stimulus is likely to become necessary. He tied any change to whether business investment could offset weaker consumer spending.
Inflation is 2.9%, and the MPC voted 5-3 to hold rates at 0.25% in June.
A firmer pound and a shift toward higher UK rates change the currency backdrop for UK-linked feed and commodity trade. The effect on grain and feed prices is indirect and modest.
bbc.co.ukJun 28, 2017Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
