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FTSE 100 the standout loser yesterday- will it be the same again today?

Yesterday the FTSE 100 was the standout under-achiever when it came to the European close for the major indexes. The FTSE 100 closed 0.83% lower, where the DAX gained 1.47% and the CAC put on 0.29%. The FTSE 100 lost 73 points, when ending the session at 8,682, after hitting an earlier session low at 8,645. As noted yesterday, the higher Pound versus the dollar and the lower oil price dynamics clearly weighed on the index and also the further surge in UK yields added another headwind. To clarify on that; the UK 10 year yield rose above 4.70% yesterday. It is currently around 4.65% this morning. That compares to a US equivalent right now at 4.24%. So, that is clearly supporting the GBP/USD (and so it should), but at the same time not doing the FTSE 100 many favours. The FTSE 100 future is right now pricing an effective lower opening this morning, currently around 8,650 
 

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