Dollar rallies and FTSE 100 gains ground
|“The dollar is in strong form this afternoon, and European indices have recovered from Thursday’s decline.”
FTSE 100 springs back from Thursday’s losses
“The FTSE 100’s resilience is a welcome relief for UK investors. The index has bounced back from Thursday’s ex-dividend driven fall, and with mining stocks leading the way it is back on course for the recent highs. European markets generally are doing well, recouping some losses, but with the outlook so uncertain thanks to inflation and the Ukraine war this mood of optimism is unlikely to last. Next week’s ECB meeting will give investors more of a clue on how the central bank is looking at policy, even if no rate hikes are expected.”
Dollar index touches new two-year peak
“It’s all go for the greenback once again. After some hesitation in March the dollar appears to have rediscovered its forward momentum. Further Fed tightening seems to be the only sure thing around at the moment, and with CPI next week likely to deliver another surge in prices there is plenty of rationale to stick with long dollar trades it seems.”
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