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Though Theresa May’s pair of speeches last week has helped sterling by somewhat clarifying Britain’s Brexit position, given that the currency is only up 0.2% against the euro it seems that Monday’s cable gains are more a case of dollar weakness than pound strength. The greenback, which also shed 0.4% against the euro and 0.8% against the Japanese yen, seems to have been shaken both by the apocalyptic tone set by Trump at his inauguration, and the global protests that greeted the former Apprentice host’s ascension to the highest office in the land.

The European indices weren’t too pleased with this situation; the CAC fell by 0.3%, while the DAX and FTSE both dropped by 0.8%. Alongside the pound’s growth, sharp losses from BP and Shell and a splash of red across the banking sector are dragging on the FTSE, which is now at its worst price since the first trading day of 2017. To make matters worse Monday’s economic calendar is pretty threadbare, leaving little to change the UK index’s situation as the morning progresses.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Connor Campbell

Connor Campbell

Connor joined Spreadex in 2014 as part of a newly expanded financial analyst team after graduating from the University of Southampton with an MA in English. His focus is on providing Spreadex's customers with up-to-date and informative news, and is responsible for the market analysis found on the Spreadex website.

Connor produces three daily market updates, a daily stock earnings preview, a weekly financial market preview piece every Friday, a round-up of all the big financial stories making the weekend press every Monday morning and regular stock market features.

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