Omnis market update 10 July

The FTSE 100 rallied at the start of the week, led by the energy and banking sectors, although it fell on Thursday amid concerns that central banks are considering raising interest rates sooner than expected and winding down quantitative easing. The prospect of higher rates temporarily boosted sterling midweek, but overall the pound weakened against the dollar and other major currencies on the back of disappointing industrial and trade data (more on these below).

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