Latest is the FED - inflation outlook is transitory so imminent rate hike off.
USD generally down and stock markets up - that’s how the market is supposed to be.
Tomorrow is BOE’s turn and outlook not as clear - some members of the bank have been saying they view Uk inflation as transitory whereas others are not so sure - the bank is in a difficult position - act too late and inflation will be hard to shift and act too fast and the recovery will stall.
The UK Govt’s OBR reported same day as the UK budget that estimate for GDP contraction is minus 2% ref the pandemic and double that ref brexit. The bank are aware of this so likely will proceed with caution.
Dax and FTSE generally move in tandem but not so these past 2 days - FTSE investors maybe that little more concerned that a shock rise will be announced.
Not so FX traders - pound buyers have not been to the fore for a week - but if a rise they will jump aboard very quickly.