FTSE 100

Key insight

The FTSE 100 struck a fresh all-time intraday high of 10,951.06 today before reversing hard — the index is now caught between record-high momentum and twin central bank binary risk (Fed Wednesday, BoE Thursday), making this a hold-not-chase setup.

The FTSE 100 pulled back sharply to 10,825.80 from today's intraday all-time record high of 10,951.06, flagging profit-taking and event risk ahead of the Fed decision tonight and BoE rate announcement on Thursday.

Main risk

Bank of England Rate Decision – Thursday 31 July

All 70 polled economists expect the BoE to hold at 3.75%, but any hawkish language on elevated energy costs and Middle East inflation pass-through could spike gilt yields and trigger a sharp de-rating of rate-sensitive UK domestics.