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Goldman Sachs says a weak pound is squeezing UK consumers while the Bank of England looks through inflation. Sterling rallied above 1.25 against the dollar after a 2.3% CPI reading, though traders remain cautious ahead of the Article 50 activation.
Sterling's direction relative to the dollar sets the local-currency cost of US dollar-priced feed grains and meals for UK buyers.
exchangerates.org.ukFrançois AuréMar 27, 2017After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), 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.
