FTSE 100 Live 10 January: Sainsbury’s posts update, sterling below $1.23
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Sterling stands at $1.227 this morning, having fallen to a one-year low during a turbulent week for UK financial markets. The 10-year gilt yield is at its highest level since 2008 at 4.81%. The FTSE 100 index is forecast to open 26 points lower at 8294, having risen 0.8% yesterday as overseas earning stocks benefited from the weaker pound.
Today’s session includes the release of the monthly US jobs report, which will have a bearing on the US interest rate outlook in 2025. Deutsche Bank economists are looking for non-farm payrolls to grow by 150,000 in December. This compares with 227,000 in November, a figure boosted by a bounce back from previous weather disruption and the end of strikes.
