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Morgan Stanley strategist Hans Redeker says sterling is the most undervalued major currency and could reach $1.45 by end-2018, from about $1.2544. The bank argues Brexit risks are already priced in, including a possible WTO-tariff outcome.
A forecast of sterling recovery is a currency view with no direct effect on feed commodity supply or demand.
independent.co.ukBen ChapmanFeb 24, 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.
