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Sterling slips back as the US dollar underperforms, gold bounces
Wall Street closed another cautious session yesterday slightly weaker on the S&P 500 -0.1% at 2808, whilst US futures are advancing today by +0.2%. This has helped Asian markets move higher overnight with the Nikkei +0.8% and Shanghai Composite +1.0%. European markets are following US futures higher, with FTSE futures and DAX futures around +0.2% higher. In forex trading, sterling is coming under some corrective pressure this morning, but aside from that there is a sense of mild dollar correction. This is helping to lend support to commodities, with gold and silver both bouncing after yesterday’s decline, ... (full story)