Hot UK Inflation Lifts Global Yields, Leaves Currencies Largely Unmoved
Famous last words perhaps, but today is shaping up to be a quiet one in currency markets. Treasury yields and the trade-weighted dollar are inching higher after a hotter-than-expected British inflation print put upward pressure on global interest rates and pushed equity and commodity futures into a defensive posture – but trading ranges remain unspectacular relative to recent months. The British pound jumped this morning after the latest inflation numbers topped expectations, making a rate increase at the next Bank of England meeting far more likely. According to data released by the Office for National Statistics, consumer prices climbed 10.1 percent in...