FTSE 100 hits record high as markets digest US-China tariff truce

Pound falls 0.4% against the dollar, boosting overseas earners in the UK’s leading index

The FTSE 100 soared to a new record on Monday after news of a truce in the contentious trade dispute between the US and China cheered investors and helped send the pound lower against the dollar.

News that the world’s two largest economies had backed away from a potentially disastrous trade war and agreed to abandon plans to raise tariffs on each other’s exports lifted the UK’s leading index to a peak of 7868.12, the first time it has climbed above 7800.

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