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The United Kingdom’s gilts rose during Wednesday’s afternoon session, after the country’s consumer price inflation (CPI) fell slightly during the month of November and investors will now keep a close eye on the Bank of England’s (BoE) monetary policy decision, scheduled to be unveiled on December 20 and the third-quarter gross domestic product (GDP) data, due on December 21 by 15:00GMT for further direction in the debt market.
The yield on the benchmark 10-year gilts, fell nearly 1-1/2 basis points to 1.269 percent, the super-long 30-year bond yields hovered around 1.789 percent and the yield on the short-term 2-year traded 1-1/2 basis points lower at 0.737 percent by 11:20GMT.
In addition, the data flow will bring the latest House Price Index for October. And the CBI’s latest Industrial Trends Survey will provide further insight into the hit on manufacturing orders against the backdrop of ongoing Brexit uncertainty.
Meanwhile, the FTSE 100 rose nearly 1 percent to 6,764.37 by 11:30GMT, while at 11:00GMT, the FxWirePro's Hourly Pound Strength Index remained neutral at -3.10 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
