富时100指数周一下跌，表现不如欧洲同行，制药和生物技术股领跌。权重股阿斯利康股价下跌3.4%，此前该公司暂停了对剑桥研究中心的2亿英镑投资计划。葛兰素史克公司股价下跌超过1.5%。英国电信在任命了来自顶级投资者Bharti Global的两名董事会成员后，股价也下跌了2%以上，自去年以来上涨了45%。从好的方面来看，Sainsbury的股价飙升超过3.5%，达到四年来的最高点，此前该公司确认以不利条款为由结束了将Argos出售给京东的谈判。分析师表示，这家零售商仍对出售持开放态度，这可能会将注意力重新集中在其强大的食品业务上，并可能吸引新的收购者。投资者现在期待着本周在美国和英国举行的央行会议，以及周三公布的英国通胀数据，预计通胀率将保持在3.8%，为18个月来的最高水平。

The FTSE 100 fell on Monday, underperforming European peers, led by losses in the pharma and biotech stocks. Heavyweight AstraZeneca dropped 3.4% after pausing a planned £200 million investment in its Cambridge research centre. GlaxoSmithKline went down more than 1.5%. BT also slipped over 2% after appointing two board members from top investor Bharti Global, following a 45% rally since last year. On the upside, Sainsbury’s surged more than 3.5% to a four-year high after confirming it ended talks to sell Argos to JD.com, citing unfavorable terms. Analysts said the retailer remains open to a disposal, which could refocus attention on its strong food business and potentially attract new suitors. Investors are now looking ahead to this week’s central bank meetings in the US and UK, along with UK inflation data on Wednesday, forecast to hold at 3.8% year-on-year, an 18-month high.

英镑创两个月新高，英国就业数据出炉。英镑在新的交易周开始时处于积极区间。在欧洲市场，英镑/美元交易价格为1.3591，当日上涨0.26%。

British Pound Hits Two-Month High, UK Job Data Next.The British pound has started the new trading week in positive territory. In the European session, GBP/USD is trading at 1.3591, up 0.26% on the day.

英国10年期国债收益率降至4.64%，反映了欧洲和美国的下跌，因为投资者在一周的央行决策和英国关键数据之前保持谨慎。预计英格兰银行周四将把利率维持在4%，同时放缓其1000亿英镑年度债券的解除速度。重点还将放在英国通胀、就业和零售销售数据上。8月份的CPI预计将保持在3.8%的同比水平，为18个月来的最高点，几乎是英国央行2%目标的两倍。预计英国央行将在下个季度和明年初再次降息。与此同时，人们普遍预计美联储将在周三降息25个基点，交易员预计到2025年底将至少再降息两次。

The UK’s 10-year gilt yield eased to 4.64%, mirroring declines in Europe and the US, as investors stayed cautious ahead of a packed week of central bank decisions and key UK data. The Bank of England is expected to hold rates at 4% on Thursday while slowing the pace of its £100 billion annual bond unwind. Focus will also be on UK inflation, jobs, and retail sales data. CPI for August is forecast to hold at 3.8% y/y, an 18-month high and nearly double the BoE’s 2% target. The BoE is projected to cut once next quarter and again early next year. Meanwhile, the Federal Reserve is widely expected to deliver a 25 bps cut on Wednesday, with traders pricing in at least two further cuts by end-2025.

英镑攀升至1.360美元以上，接近10周高点，市场正等待一周繁忙的央行决策和英国数据。预计英格兰银行周四将把政策利率保持在4%，并放缓其1000亿英镑年度债券的解除速度。周三公布的英国8月份通胀率预计为3.8%，与7月份的18个月高点持平。就业报告和零售额将在本周晚些时候公布。市场目前认为，英国央行在12月前降息的可能性为三分之一。与此同时，预计美联储周三将降息25个基点，交易员预计到2025年底至少还会降息两次。

The British pound climbed past $1.360, close to a 10-week high, as markets await a busy week of central bank decisions and UK data. The Bank of England is expected to hold its policy rate at 4% on Thursday and slow the pace of its £100 billion annual bond unwind. UK inflation for August, due Wednesday, is seen at 3.8% year-on-year, matching July’s 18-month high. The jobs report and retail sales will follow later in the week. Markets currently see a one-in-three chance of a BoE cut by December. Meanwhile, the Federal Reserve is expected to cut rates by 25 bps on Wednesday, with traders pricing in at least two further reductions by end-2025.