The UK gilts traded nearly flat Tuesday as investors remain cautious ahead of the Bank of England (BoE) member Haldane’s speech, scheduled today at 17:00GMT.
The yield on the benchmark 10-year gilts, hovered around 1.19 percent, the super-long 30-year bond yields traded flat at 1.83 percent and the yield on the short-term 2-year traded tad higher at 0.28 percent by 09:50 GMT.
This week in the UK also brings the preliminary release of Q2 GDP figures, due on Wednesday. The latest economic indicators have been quite mixed – for example, retail sales rebounded after a notable drop at the start of the year, but other areas of consumer spending have been discouraging. Indeed, new car sales have fallen sharply, and momentum in the housing market has moderated.
Meanwhile, the FTSE 100 jumped 0.85 percent to 7,439.50 by 10:20 GMT, while at 10:00GMT, the FxWirePro's Hourly Pound Strength Index remained neutral at -71.43 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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