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Stocks and sterling rally as Brexit hopes continue to build

by LLB Editor
17th Dec 20 10:55 am

Belief continues to build in the idea a Brexit deal can be brokered, despite slightly guarded comments from both sides of the negotiation, with sterling advancing strongly,” says AJ Bell investment director Russ Mould.

“The FTSE 100 was also higher, pushed up by domestic-facing stocks and miners. The other big story is the US stimulus package which is undermining the dollar but improving market sentiment as it looks like the Republicans and Democrats are closing on an agreement.

“Having surged through $20,000 yesterday bitcoin shows no sign of stopping – battering through the $22,000 mark on Thursday morning.

“It emerged this week that mainstream asset manager Ruffer had taken a position worth hundreds of millions of pounds in bitcoin and this may be driving the idea that the cryptocurrency is entering a new phase as more institutional investors could use bitcoin to diversify their portfolios.”

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