Gold Rebounds as Oil Falls and Treasury Rout Eases 
Dollar Eases Near Two-Month High as Yen Rebounds 
Asian Stocks Fall as Bond Yields and Oil Prices Surge 
BOJ Signals Faster Rate Hikes as Inflation Risks Grow 
Gold Holds Near Seven-Week Low as Fed Rate Hike Bets Rise 
US Dollar Hits Two-Month High as Aussie, Pound Slide 
US Treasury Bond Buybacks Fall Short Despite Expanded $6 Billion Cap 
Nasdaq Futures Jump as Micron Earnings Boost AI Trade 
Australia Inflation Accelerates to 4% After RBA Rate Hike 
Gold Steady as Softer U.S. Inflation Eases Fed Rate Hike Bets 
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The UK gilts plunged Wednesday as investors remained cautious ahead of the country’s 10-year auction, scheduled to be held on July 6 will add more clarity to the debt market. However, market participants have largely shrugged-off the lower-than-expected services PMI for the month of June.
The yield on the benchmark 10-year gilts, jumped 3 basis points to 1.28 percent, the super-long 30-year bond yields climbed nearly 4-1/2 basis points to 1.90 percent and the yield on the short-term 3-year traded 1 basis point higher at 0.42 percent by 11:10 GMT.
At 53.4, the headline seasonally adjusted IHS Markit/CIPS Services PMI Business Activity Index posted above the 50.0 no-change mark for the eleventh successive month in June. However, the index was down from 53.8 in May and signalled the slowest expansion of service sector output since February. The average reading in the second quarter as a whole (54.3) was in line with that recorded during the first three months of 2017.
Meanwhile, the FTSE 100 traded 0.20 percent lower at 7,361.75 by 11:10 GMT, while at 11:00GMT, the FxWirePro's Hourly Pound Strength Index remained neutral at 24.10 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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