Sterling was last down 0.25% at $1.2477, while the euro dropped a similar amount to $1.0719, as the dollar resumed its rise across the board after a blip a day earlier on the back of moves in Asian currencies.
The 10-year German bund yield, the regional benchmark, held steady at 2.62% after recent gains, while the U.S. The two-year gilt yield was down nearly 6 basis points to 5.02%, falling more sharply than the 10-year gilt yield which was at 4.42%. "I think (the data) underscores the likelihood of just one more and then done for the Bank of England and more of a bull steepening in the gilt (British government bond) market while we have had bear flattening elsewhere where higher oil prices have dominated the narrative," said Chris Scicluna, head of research at Daiwa Capital Markets.īond yields move inversely to prices and bull steepening refers to shorter dated rates falling faster than longer dated rates. numbers and Thursday's European Central Bank meeting, as Britain reported a rise in its unemployment rate that means the Bank of England's expected rate rise next week might be its last.Įurope's Stoxx 600 index edged up 0.27% (.STOXX), with Britain's FTSE (.FTSE) an outperformer gaining 0.67%, helped at the margin by expectations that the jobs data will lead to a softer pound and in turn make British stocks more attractive to investors overseas.īritain's labour market showed more signs of cooling in the three months through July, data showed on Tuesday, suggesting a weaker economy leading to slowing inflation, easing pressure on the Bank of England to raise rates much further. Traders still had plenty to watch on Tuesday ahead of the key U.S. inflation data that could influence when or whether the Federal Reserve raises rates further.
SINGAPORE/LONDON, Sept 12 (Reuters) - Global stocks held firm on Tuesday and the dollar regained a little of its overnight losses a day ahead of crucial U.S.
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