U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Yen Near Lows as Markets Await Bank of Japan Rate Decision, Euro Slips After ECB Signals Caution 
Canada Signals Delay in US Tariff Deal as Talks Shift to USMCA Review 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
New Zealand Business Confidence Hits 30-Year High as Economic Outlook Improves 
The UK gilts plunged Wednesday as investors moved away from safe-haven assets after reading the country’s upbeat services PMI for the month of March. Also, market participants are curiously eyeing the Bank of England (BoE) Governor Mark Carney’s speech scheduled to be held on April 7.
The yield on the benchmark 10-year gilts, which moves inversely to its price, climbed 1-1/2 basis points to 1.08 percent, the super-long 30-year bond yields jumped 2 basis points to 1.68 percent while the yield on the short-term 3-year traded 1/2 basis point higher at 0.22 percent by 09:20 GMT.
The headline seasonally adjusted Markit/CIPS Services PMI Business Activity Index picked up from 53.3 in February to 55.0 in March, and therefore above the 50.0 no-change value for the eighth consecutive month. Moreover, the latest reading signalled a marked increase in business activity and the fastest pace of expansion since December 2016. This signalled a marked rebound from the five-month low seen in February.
"Much of the disappointment in growth so far this year has been evident in consumer-oriented sectors, in part linked to spending and incomes being squeezed by higher prices," said Chris Williamson, Chief Business Economist, IHS Markit.
Lastly, investors shall also remain glued to observe the country’s February manufacturing production and trade balance data, due to be released by end of this week for further direction in the debt market.
Meanwhile, the FTSE 100 rose 0.19 percent or 14.18 points to 7,299.50 by 09:40 GMT, while at 09:00GMT, the FxWirePro's Hourly Pound Strength Index remained neutral at 69.27 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
