FTSE 100 sinks amid soaring greenback
On Friday, British shares sagged, staying on course for a weekly dip, as a stronger greenback cut into stock prices within the major commodities sector.
The FTSE 100 descended 0.5%, being worth 6,199.12, with sectors getting higher. On Thursday, the number one British index lost 1.1%, thus breaking a four-day winning marathon.
For the week, the blue-chip benchmark was demonstrating a 0.2% loss. In fact, it would be its second straight week of tumbles.
Mining as well as energy stocks traded lower, with commodity prices undergoing pressure as the evergreen buck crawled higher against some of its key counterparts. Strengthening in the US dollar might affect prices for dollar-denominated metals as well as oil.
Both the British pound and the common currency are currently on the back foot. It’s because the greenback off recent 4-week minimums, bringing the Dollar Index higher 94 because global risk sentiment changed.