Does weight loss lead to lower alcohol tolerance? How much?

I weighed about 200lbs 6 months ago and have since lost about 20lbs, pretty much all of which was fat.

My drinking habits haven’t changed significantly over that time, but it feels like a can of beer has a noticeably stronger effect on me than before. Could my weight loss be responsible for this? Some other reason? Just my imagination?

If I assume my fat rate was 25% at the start, then I was carrying 40lbs, and am now carrying 20lbs, or 11% of my current weight.

This means that my weight has dropped by 10%, my fat weight has dropped by 50%, and my fat rate has dropped by 56%. All other things being equal, which of these figures would have a greater relationship to alcohol tolerance?