It remained a relatively quiet day on the markets, especially for the pound, which is still waiting on news of the next Brexit steps.
With the government yet to hear from the EU, sterling had little to work with on Wednesday. Yet, instead of trickling lower, the currency managed to hold firm, sitting at $1.288 and €1.158. Not bad given it wouldn’t have been much of a surprise if the prospect of another few months of Brexit uncertainty, and the potential for a general election, caused it to tumble.
Elsewhere it was thin pickings. The pound’s losses on Tuesday, alongside a solid set of commodity stocks, left the FTSE as the day’s winner; the UK index rose half a percent, striking 7250 for the first time in 9 days and leaving it on track for its best close since the start of the month.
The DAX edged 0.1% higher, keeping it within touching distance of 12800, while the CAC moved 0.2% in the other direction, falling under 5650.
As for the Dow Jones, it managed to eke out a 0.1% increase, pushing it back above 26800. This as Boeing (NYSE:BA), which has been a bit of a problem for the Dow in the last week, rebounded by 3% despite a disappointing earnings release.
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