Overnight news

Good morning

- Reversal in markets yesterday as stocks recover, dollar weakens

- Moves come despite US 10 year yields trading back up to 1.5%

- Feds Powell says sees sustained improvement in economy

- Still says inflation likely to fade after notable increase

- Powell testifies today, speech text already released, watch Q&A session

- Feds Kaplan says better forecasts reflect improved economic outlook

- Feds Williams less certain, says economy not improved enough yet

- GBP made good ground across the board yesterday

- UK PM Johnson says 19th July looks good for end of restrictions

- But two England footballers told to isolate after Scottish opponent tests positive

- Summer began yesterday, typically overcast and rainy

- UK looks to join Trans-Pacific trade deal

- China purchases under US trade deal drop to lowest levels since Oct 2020

- Nikkei up 3.12% to 28,884

- Shanghai Comp up 0.84% to

- USDCNY fixes 6.4613 from 6.4546

- 10.15 ECBs Rehn speaks

- 15.00 US existing home sales

- 15.00 EU consumer confidence

- 15.00 ECBs Lane speaks

- 15.30 Feds Mester speaks

- 16.00 Feds Daly speaks

- 18.30 ECBs Schnabel speaks

- 19.00 Feds Powell speaks

- 00.00 AUS commonwealth bank PMIs

- 00.50 BoJ minutes