FTSE 100 extends gains as GBP/USD slips ahead of key US data

It is not long now until we get the most important US data release of the week, at 12.30pm GMT, when the February PCE report will hit the screens. To be honest with you though, this data will need to surprise the markets one way, or the other, if it is to eclipse the more prevalent risk based drivers controlling most of the shots at the moment. Ahead of this the Pound has lost some ground and perhaps that has now helped to lift the FTSE 100 back into positive territory? In fact, the FTSE is the only major European index not still in the red right now. The GBP/USD has fallen back to around 1.2925 and that has helped to lift the EUR/GBP from its earlier low of the week, at 0.8315. The FTSE 100 is right now at 8,686