by Martin Armstrong
Asia resumed its charge with a strong open in the Nikkei and never really looked back from there. Throughout the day the Nikkei made steady progress finally closing +1%. Hang Seng was also strong closing over 1% higher on the day. Shanghai was the lag index for the core closing down 0.2% but was off the days lows of -0.9%. JPY was one of the weakest currencies around today trading almost 106 -2% on the day.
In Europe dealers waited the BOE decision at midday stocks made ground on the back of a stronger Asia euphoria and a seemingly stable US session. The BoE kept rates unchanged despite rumours of a possible hike but once we saw the voting (8-1), it became clear who that “one” could have been.