Things remained rather quiet as the morning went on, with the European indices erasing their early losses and not much else.
Over on the forex markets the main driver remained the US government shutdown, with the already soft dollar giving back a bit more to the pound and euro. Sterling heavily flirted with $1.39 as it climbed 0.2%, while the euro crept back across $1.225 after rising by the same amount. Against each other, however, neither currency could gain the upper hand, with the pound effectively flat the wrong side of €1.134.
Despite cable lurking around its post-Brexit peak, the FTSE managed to overcome its initial wobble this Monday, nudging back above 7730 – roughly 70 points off its all-time highs – as the day went on. The DAX, meanwhile, remained in the ball-park of its own record intraday high, sitting flat around 30 or so points away from 13500 – the latest news surrounding a possible German coalition between the CDU and SPD could only keep the index from dipping in the red, rather than propel it to fresh highs.
Looking to this afternoon, and the US open appears unlikely to bring about much excitement. The Dow Jones is set to follow in the dollar’s footsteps with a 0.3% decline, a drop that would see the index teetering on the edge of falling back below 26000.
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