FTSE 100 drops on strengthening greenback
On Thursday, shares in Great Britain dropped in an attempt to find their footing as the greenback kept ascending, with trading volume supposed to be light on the U.S.’s Thanksgiving Day holiday.
The FTSE 100 dropped 0.2%, hitting 6,801.63. The index on Wednesday sagged just 2 points, ending little changed after the British government laid out its tax as well as spending plans.
Trading volume is supposed to be lighter than usual, as American equity markets are currently closed for the Thanksgiving Day holiday. On Friday, there will be a shortened trading session in America.
Mining stocks were mixed because the US Dollar Index hit 14-year peaks. The major American currency tacked on after strong economic data powered expectations that the Federal Reserve will increase interest rates in December. A higher dollar can affect dollar-denominated metals prices as well as related stocks.
The sterling was buying $1.2431, compared with Wednesday’s outcome of $1.2437.