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Pound breaches $1.40 as FTSE slides to six-day low

Investors grow confident London and Brussels will agree on a Brexit transition deal in coming months

Pound breaches $1.40 as FTSE slides to six-day low

UK stocks headed lower on Wednesday, with big multinationals leading the charge south as a rally in the pound spooked investors out of companies that generate most of their revenue abroad, MarketWatch reports.

What are markets doing? The FTSE 100 index dropped 0.3% to 7,711.89, setting the benchmark on track for its lowest close since last Thursday.

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