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Though the Supreme Court’s decision wasn’t a massive boost for sterling – it leaves only a few obstacles for the government to clear before it triggers Article 50 – the fact that the bill will now be published on Thursday means the uncertainty that has plagued the currency for months is gradually dissipating. This caused sterling to surge 0.7% against the dollar (which has seemingly been softened by Trump) to hit a 6 week high, while a near half a percent increase against the euro took it to a fresh 3 week peak.

This did, however, limit the FTSE’s gains this Wednesday. While the DAX and CAC surged 1.4% and 1% respectively, leaving the former at a fresh 18 month high despite the German Ifo business climate reading coming in lower than expected, the FTSE could only managed a meagre 0.2% rise.

Looking ahead to this afternoon and the re-emergence of the Trump rally, thanks to the President re-igniting his promise to build a wall on the US-Mexico border lifting the infrastructure-related stocks, has the Dow Jones eyeing 20000 once again. The futures are promising a 60 point rise after the bell, one that would see the Dow at a 2 and a half week high AND leave it just 30ish points away from the landmark level that had eluded it for so long.

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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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