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Sterling held its gains on Thursday after jumping to a one-month high on Carney's comments hinting at a rate rise. Carney said the clearest signal yet that rates could go up was that removal of stimulus is likely to become necessary.
Some analysts now see a possible rate rise as early as the August MPC meeting, and the pound traded just below $1.30.
Expectations of earlier BoE tightening strengthen sterling against the dollar, which lowers the cost of dollar-priced commodities for UK buyers. The impact on global feed prices is limited.
independent.co.ukBen ChapmanJun 29, 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.
