FTSE is the happiest place to be long?With the PBOC sticking to expectations and maintaining its Loan Prime Rates (LPR), commodity-related currencies experienced little volatility during the Asian session.
Instead, the majority of the action was focused on GBP after the UK released its August CPI figures. Both headline and core CPI came in lower than expected, supporting the Bank of England's (BOE) less hawkish path.
GBP fell against its major counterparts but has since recovered, particularly against the USD, JPY, CHF, and EUR.
This opens the door for the FTSE to rise. For longs, I look at the 7700 area as a breakout retest.