Meanwhile American existing home sales edged marginally higher and by more than expected in May, an improvement on the April retreat. In both cases markets had expected a +25 bps rise. And the more important regional benchmark is the ECB policy rate which is 4.0% which was raised by +25 bps last week with inflation at 6.1%. Separately, the central bank of Turkey raised its policy rate from 8.5% to 15% in the expected reversal of the prior unorthodox approach that brought raging inflation. The bitcoin price has firmed slightly from this time yesterday and now at US$30,132 with minor rise of +0.3%.
