The FTSE 100 closed flat on Thursday, with a marginal decrease to 7,722.74, while the FTSE 250 ended 0.1% lower at 19,740.18. Despite a strong performance yesterday, the rally slowed today, with markets in Europe and the US experiencing gains of over 4% and 5%, respectively, in the last month. The CME FedWatch indicates an 88% chance of a rate cut in March next year, driving the dollar index to a five-month low of 100.76.
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In The News:
'Sterling could climb to $1.35 despite Bank of England rate cuts
Sterling could climb to around $1.35 next year if the UK economy outperforms the array of gloomy forecasts predicting sluggish growth in 2024.
Despite traders predicting that the Bank of England will start cutting interest rates in the first half of next year, sterling has remained relatively strong.
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