With the pound erasing its early losses Thursday’s trading was pretty dull, something unlikely to change after the US open.
It initially looked like sterling was going to suffer another awful session, hitting fresh 11 month and 9 month lows against the dollar and the euro not long after the bell. However, while it is lightyears away from posting anything resembling an actual recovery, the pound has managed to edge into the green on Thursday. Cable rose 0.1%, just about lifting back above $1.29, while against its single currency peer it climbed 0.3%, re-crossing €1.112.
This left the FTSE 100, mainly hurt by a series of stocks going ex-dividend and TUI’s 9% decline, as the day’s worst performer. Falling 0.6% the index slipped back towards 7720, having come so close to hitting 7800 on Wednesday.
Turning to the afternoon and the Dow Jones isn’t set to do much when the bell rings on Wall Street. The Dow futures have the index slipping 0.1% when the session gets underway, a move that would keep it the wrong side of 25600.
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