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The Accumulator: pound turns our table red

Our exclusive weekly stock market data table shows how world markets have performed for UK investors.

The Accumulator: pound turns our table red

Sterling strength continued to weigh on the performance of most asset classes this week for UK-based investors.

Pretty much every part of the market – with the exception of oil and bricks and mortar - showed losses over the week to yesterday’s close, according to our exclusive Accumulator table (link below).

During this period, sterling rose by 0.9% against the dollar to $1.354. The pound was buoyed by the Bank of England’s comments at the end of last week, which suggested an interest rate rise could be on the cards ‘in the coming months’. This has led to speculation that there could be a rate rise at the monetary policy committee’s November meeting.

The pound continued to perform well this week after August retail sales beat expectations with a 1% rise - marking a four-month high.

Dollar-denominated assets, such as gold, silver and US real estate investment trusts (Reits) performed particularly badly during the week – although weakness cannot be attributed solely to currency. Silver was down 5.8%, US Reits fell by 3%, while gold sank 2.3%.

By Friday sterling’s strong run came to an end after Theresa May’s Brexit speech in Florence, which caused the pound to edge 0.3% lower against the dollar to $1.354.

You can access the Accumulator here.

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