FTSE 100 Struggles But Pound Edges Higher Amid Growing Concerns About Political Stability In Europe

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Growing fears about political instability in Europe drive pound higher

Even though German overtook the UK to become the fastest growing major advanced economy in 2016, the pound is rising. Concerns over the outcome of French presidential elections in April and May have propelled the local currency higher. It rose by as much as 0.5pc to $1.2494 this afternoon and gained against the euro to 84.51p per euro. 

Even though the UK economy is showing signs of strain following the release of Q4 GDP data yesterday, which showed a fall in business investment in the fourth quarter,  investors are growing nervous about political stability in Europe. 

A poll overnight showed Le Pen only 10 points behind conservative Francois Fillon but 22 points behind centrist Emmanuel Macron, in the potential second-round run-offs due in May. 

Germany beats UK to claim fastest growing major advanced economy in 2016

Germany has usurped Britain to claim the title of fastest growing major advanced economy in 2016. Official data released this morning confirmed that German GDP rose by 1.9pc last year, that compares to the UK, which grew by 1.8pc over the same period. 

The German economy quadrupled its growth rate to 0.4pc in the fourth quarter of 2016, the Federal Statistics Office said. The growth was driven by higher state spending, rising private consumption and construction. 

ECB chief economist warns Brexit impact could turn nasty

Brexit will have a significant impact on bilateral trade, the European Central Bank's chief economist said this morning, warning things could turn "nasty quite quickly".

ECB Executive Board member Peter Praet, said:"On Brexit...I think there will be more friction in trade, I am convinced of that. I remain...optimistic but you cannot be blindly optimistic because these things can turn nasty quite quickly. That is a lesson of history."

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This is source I found from another site, main source you can find in last paragraph

Source : http://www.telegraph.co.uk/business/2017/02/23/ftse-100-struggles-dax-nears-all-time-high-germany-crowned-fastest/

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