* The BOJ voted 7-1 to raise its benchmark policy rate to 1%

* Oil fell 2.2% to a three-month low above $81 a barrel

* Nvidia ( NVDA ) sold $25 billion of bonds

(Updates throughout)

By Amanda Cooper and Alun John

LONDON, June 16 (Reuters) - Global stocks edged higher on

Tuesday after a rally the day before on news of a U.S.-Iran

peace deal, while the dollar held firm against the yen after the

Bank of Japan raised rates to a 31-year high.

Markets settled into a more measured tone on Gulf

developments as the initial excitement over the preliminary

agreement between Washington and Tehran began to fade.

Technology stocks got a lift as investors took heart from

SpaceX's blockbuster IPO late last week that pushed its

shares up nearly 20% on Monday, taking the space exploration

company's market value past the $2 trillion mark. They were up

another 10.7% in premarket trading on Tuesday. Nasdaq futures

rose 0.1%, while S&P 500 e-mini futures were

flat.

The Nikkei 225 hit the 70,000 mark for the first

time after the Japanese central bank voted 7-1 to raise its

benchmark policy rate to 1%, levels last seen in 1995. Against

the dollar, the yen was flat at 160.31.

In Europe, the STOXX 600 rose 0.6% to hover near

Monday's record high, led by gains in Schneider Electric

, which caters to data centres, and ASML,

which rose 2.7% and 0.6%, respectively.

Nvidia ( NVDA ), the world's most valuable maker of AI

chips, surprised investors by tapping the bond markets for $25

billion. The company said the cash would be used for general

corporate purposes and the debt sale was to establish a liquid

benchmark for future issuance. Nvidia ( NVDA ) shares were a touch lower

in premarket trading.

"The reality is we're one step further from worst-case

scenarios, and we're one step closer to seeing the codification

of the optimism of the market," Mitch Reznick, group head of

fixed income at Federated Hermes, said.

"The key thing is to what extent we have systemic inflation,

how far it has permeated the economy, and the effect on the

consumer," he added.

Oil slid another 2.2% to a three-month low just above $81 a

barrel, even though shippers in Asia and Europe said rebuilding

confidence in resuming transit through the Strait of Hormuz

could take weeks.

Oil consumers will likely scramble to restock inventories

depleted over the past weeks of war, meaning prices may not have

much room to fall in the near term, according to ING strategist

Warren Patterson.

U.S. President Donald Trump's announcement of a deal with

Iran drew initial investor relief on Monday, but it also puts

Washington on a collision course with Israel.

"While it is an important diplomatic breakthrough that

should remove a key source of market volatility, the durability

of the deal is likely to be tested in the future," Westpac

analysts wrote in a research note. "Many sticking points,

including the fate of Iran's nuclear programme, were left to be

resolved in subsequent negotiations."

The dollar index, which tracks the U.S. currency

against six others, was steady around 99.6. The euro rose

0.1% to $1.1605, as did the pound, which traded at $1.342

, with two days to go before a Bank of England meeting

that is unlikely to yield any change in monetary policy.

The Australian dollar was little changed after the

Reserve Bank of Australia kept interest rates on hold as

expected, with the currency 0.4% weaker at $0.707.

The yield on the U.S. 10-year Treasury note fell

2 basis points to 4.45%, while gold, which is also

sensitive to U.S. interest rate expectations, rose 0.9% to

$4,344 an ounce.

(Additional reporting by Gregor Stuart Hunter in Singapore;

Editing by Shri Navaratnam and Jacqueline Wong)