Stocks in London were going up nicely yesterday during the European trading session, but then investors were spooked by US Federal Reserve Chair Jerome Powell’s response to inflation fears and bond yields spiking again as bond prices plunged because inflation makes bonds less attractive as it erases the value of their income payments. On the positive side, the US Dollar rising against the Sterling Pound and solid energy prices will likely keep the FTSE100 well-supported with 6580 and 6550 as next key support levels.
Support: 6580 / 6550
Resistance: 6620 / 6650 / 6670
