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Sterling fell 0.3% to $1.2510 in London on Monday, putting it on course for its first three-day decline against the dollar this year. The pound also slipped against the euro and yen ahead of the Bank of England's first meeting of 2017 on Thursday.
A weaker pound against the dollar is a macro currency move that marginally affects UK feed import costs and the relative competitiveness of US commodities for UK buyers, with little direct grain price impact.
reuters.comJan 30, 2017After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
