Yen Near 40-Year Low as USD/JPY Approaches Key 162 Level, Raising Intervention Concerns 
U.S.-Iran Diplomacy Helps Drive Gasoline Prices Down 15% From May Highs 
Japan Manufacturing Growth Accelerates in June as Orders Surge Despite Iran War Cost Pressures 
Japan, U.S. Discuss Yen Weakness as Currency Intervention Concerns Grow 
US Dollar Climbs to One-Year High as Fed Rate Hike Expectations Surge 
Australia Inflation Cools in May, But Core CPI Keeps RBA Rate Hike Risks Alive 
Singapore Inflation Stays Muted in May as Core CPI Misses Forecasts Ahead of MAS Review 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
The United Kingdom’s gilts remained mixed during European trading hours Friday following a better-than-expected set of the country’s flash PMIs for the month of January, released today.
The yield on the benchmark 10-year gilts, remained flat at 0.589 percent, the 30-year yield rose 1 basis point to 1.090 percent and the yield on the short-term 2-year lost 1/2 basis point to 0.415 percent by 11:25GMT.
The seasonally adjusted IHS Markit / CIPS Flash UK Composite Output Index – which is based on approximately 85 percent of usual monthly replies – rose to 52.4 in January, from 49.3 in December. As a result, the headline index registered above the crucial 50.0 no-change mark for the first time since August 2019.
At 49.8 in January, the seasonally adjusted IHS Markit/CIPS Flash UK Manufacturing Purchasing Managers’ Index (PMI) – a composite single-figure indicator of manufacturing performance – picked up from 47.5 in December and was the highest since April 2019.
Lastly, the seasonally adjusted IHS Markit/CIPS Flash UK Services PMI Business Activity Index posted 52.9 in January, up sharply from 50.0 in December and the highest reading since September 2018. Mirroring the trend for business activity, latest data also revealed the sharpest increase in new work for 16 months.
Meanwhile, the FTSE 100 jumped over 1.50 percent to 7,625.49 by 11:30GMT.
