The FTSE opened around 5 points down, back within the 7150 to 7200 trading bracket that it has made its home for the past few weeks. The pound, meanwhile, continued the trends put in place yesterday, with a 0.3% fall against the dollar (leaving it just above $1.24) joined by a 0.3% rise against the Draghi-weakened euro (approaching €1.165 in the process).
Over in the Eurozone the losses were a bit more pronounced, with the DAX and CAC dropping 0.2% and 0.3% in the process. This despite the sharp drop seen by the euro itself; alongside its 0.3% decline against the pound the currency saw an ugly 0.6% slide against the dollar, taking it to a week-plus low of under $1.068. It seems that the euro and the region’s indices are reacting to different things. The former is still processing Draghi’s comments from yesterday, with the ECB chief reiterating the Eurozone’s need for stimulus despite rising inflation, while the latter are dealing with the fear of Marine Le Pen’s presidential campaign and the uncertainty a victory for the far right leader would bring.
