FTSE 100 really disappoints- Futures lower this morning

If one was to look at the slide in the GBP/USD to below 1.31 and the surge in oil prices yesterday, one might be forgiven for thinking both moves should have played into the arms of the FTSE 100. The comments from the BOE governor, Bailey advocating the prospect of a more dovish path for UK interest rates should have helped too, yet none of these did. You see the FTSE 100 fell back to a session low at 8,261.96. It later closed just 8 points lower, at 8,282.52. Granted, it was the best major European performer, but given all of the above, should it not have performed much better than that? Well, arguably yes it should, but right now the FTSE 100 futures are pricing an effective lower opening this morning and that is not encouraging. Maybe it is a case of what cannot go up has to come lower? We shall soon see on that. The FTSE 100 is currently priced to effectively reopen around 8,267