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The pound reached its highest level since the June 2016 Brexit referendum on the Bank of England's trade-weighted index, at 86.4. The rise came ahead of an expected interest rate increase, with sterling strengthening against the euro and the dollar.
The Bank will confirm the figure on Thursday.
A stronger pound lowers UK import costs for feed ingredients priced in dollars and euros, but it can make UK exports less competitive. The move also reflects a dollar that is weakening against the pound.
Not enough comparable past events yet for a historical read.
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.
