A surging pound is failing to hold back Britain's exporter-heavy blue-chip FTSE 100 in 2021, as its impact is outweighed by expectations vaccine rollouts will boost global economic growth and commodity prices will rise. The British currency and the FTSE 100 tend to move in opposite directions. Almost 80% of UK blue-chip firms' revenues come from abroad and a stronger pound makes them less competitive, while their stocks become pricier for overseas investors.
‘I’m worried the bubble problem in foreign financial markets will one day go pop,’ says Guo Shuqing, head of the China Banking and Insurance Regulatory Commission
U.S. equity futures slipped lower Tuesday, while the dollar added to recent gains and commodity prices retreated following its strongest rally in more than seven months.