Gilts and London stocks were poised to catch up with global gains, following Monday's market holiday. Fed Chair Jerome Powell downplaying the risk of rate hikes and weaker-than-expected U.S. labour data has renewed confidence in rate cuts.FTSE futures suggest the cash index is heading higher into record territory at the open, following gains in Asia and on Wall Street.
In currencies, there is talk that speculators who have been heavily long dollars are paring back and maybe even preparing for the dollar's much-anticipated fall alongside U.S. rates. Australia's central bank left interest rates on hold, as expected, though it said the inflation rate remains high and is falling slower than expected.
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