In the euro area, sovereign yields declined ahead of the Fed’s meeting (with peripheral risk premia remaining broadly unchanged), while the region’s main equity indices edged lower. Today, the Bank of England will announce its monetary policy decision, with markets widely expecting rates to be held steady at 4.00%.
Elsewhere, in commodities markets, oil prices eased (Brent down to $68/barrel) on reports of higher-than-expected inventories in the US. Gold prices also edged lowered after hitting a record high of $3707 during the session. In FX markets, the dollar made small gains against the euro and traded closer to $1.18.