London markets fail to capitalize on Fed boost as pound surges

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London markets nudged lower on Thursday after Federal Reserve Chairman Jerome Powell’s dovish comments failed to significantly support the FTSE 100.

The blue-chip index UKX, -0.09%   had initially climbed 0.2% before sinking back to trade 0.1% down.

The Bank of England also warned of the rising risk of a no-deal Brexit, which it said would bring about significant market turmoil.

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