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Sterling rose 0.2% against the dollar to nearly $1.35, its highest since September, as markets priced in a Bank of England rate increase. The move followed a Democratic sweep of the US midterm elections, which pushed the dollar lower on expectations of gridlock limiting spending and tax policy.
A stronger pound and weaker dollar make US-priced commodities like feed grains and oilseed products relatively cheaper for UK and European buyers. Higher UK rates raise borrowing costs for importers and farmers who hold stock.
telegraph.co.ukChris Price Markets EditorNov 5, 2026Not 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.
