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FTSE 100 hits new record as pound slides

1st Mar 17 2:55 pm

How’s it happened?

The FTSE 100 has hit a new record after a fall in the pound against the US dollar.

The share index managed to climb by nearly 100 points to over 7360, this change added a total paper value of around £25bn to its constituent companies.

As well as this the FTSE 250 also managed to hit a record.

The news comes as the pound fell by nearly a cent to a six-week low against the dollar.

The new record for the FTSE 100 saw it beat a previous one it managed to reach in January.

The January month saw a record-breaking winning streak due to the weakness of the pound as well as an infrastructure spending boost made by US President Donald Trump, this lifted global stock indices.

The latest record has come along due to investors considering Trump’s latest explanation of his plans, it’s also due to the fact that US interest rates could rise as soon as this month.

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