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Inflation drops | rise and dip with 7710 7722 7800 resistance | 7640 7620 7605 support

#1 · 20th September 2023, 9:00 am

Technical analysis for FTSE 100 for 20th September 2023

The FTSE 100 closed 7 points or 0.095pc higher at 7,660.20 after a choppy trading session. The FTSE 250 closed 0.12pc lower at 18,426.7. Investors remained cautious ahead of inflation data and the Bank of England’s interest rate decision, while surging oil prices has fuelled inflation concerns.

Asian stocks struggled for headway on Wednesday while 10-year U.S. Treasury yields stood at 16-year highs as surging oil prices drive inflation and set the scene for the Federal Reserve to project interest rates staying higher for longer.