Yen Sinks as BOJ Rate Hike Fails to Impress Markets 
Asian Currencies Mixed as Dollar Hits Seven-Week High After Fed Hike 
BOJ Set for 25-Basis-Point Rate Hike as Yen Weakness Fuels Inflation 
US Stock Futures Dip After Wall Street Rally 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Gold Rebounds Above $4,300 Despite Hawkish Fed Rate Hike 
European Stocks Rally After Fed Hike, Iran Peace Hopes 
Asian Gold Stocks Rise as Bullion Rebounds on Softer Dollar 
Gold Prices Rise as Oil and Treasury Yields Fall 
Bolivia Approves $1.9 Billion IMF Financing Deal 
US Stock Futures Rally as Markets Digest Fed Rate Hike 
Venezuela Nears Deal to Move $4 Billion in Gold to New York Fed 
Add as a preferred source on Google
The UK gilts rallied Tuesday after investors largely shrugged off the upbeat higher-than-expected reading of July’s manufacturing PMI. Also, investors are now eyeing the Bank of England’s (BoE) monetary policy decision, scheduled to be unveiled on August 3 by 11:00GMT for further direction to the debt market.
The yield on the benchmark 10-year gilts, fell 1-1/2 basis point to 1.21 percent, the super-long 30-year bond yields slumped 2-1/2 basis points to 1.83 percent and the yield on the short-term 2-year traded nearly 1 basis point lower at 0.26 percent by 10:00 GMT.
Monetary policy will be back in focus this week, with the BoE’s latest decision and publication of the latest Inflation Report. Preliminary Q2 GDP figures showed that growth last quarter was weaker than the BoE had expected, and the latest inflation figures also surprised on the downside.
And it will be interesting to see how the BoE characterises its labour market assessment, given that the unemployment rate has now fallen to 4.5 percent but there has been no pick up in wage growth despite the BoE having previously estimated that this is a level which should generate faster wage growth.
In contrast, manufacturing activity in the UK rose more than expected in July, bolstering optimism over the British economy at the beginning of the third quarter, industry data showed on Tuesday. In a report, market research group IHS Markit said that its UK manufacturing PMI rose to a seasonally adjusted 55.1 last month from a reading of 54.2 in June. Analysts had expected the PMI to tick up to 54.4. On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.
Meanwhile, the FTSE 100 slumped 0.86 percent to 7,436.25 by 10:00 GMT, and the FxWirePro's Hourly Pound Strength Index remained neutral at 64.68 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
