Today's top story: Turkish lira sinks to new record lows as currency crisis deepens
Today's leader: It's time for a grown-up conversation about immigration
The dollar reached its highest level in 13 months overnight, while concerns over a Turkish dispute with Washington sent the lira crashing down to record lows and had a knock on effect on the Russian ruble. The dollar index, which tracks the greenback's strength against six other currencies, rose 0.08 per cent to reach 95.58 after gaining 0.5 per cent overnight.
On Wall Street, the Dow Jones Industrial Average lost 0.29 per cent on Thursday, while the S&P 500 ended the day 0.14 per cent lower, and the Nasdaq Composite stayed flat, declining 0.04 per cent.
Asian shares took a downturn on Friday after steadily climbing this week after the Chinese government signalled its support for tech firms in the country.
MSCI's broadest index of Asia-Pacific shares was down 0.5 per cent, while continuing tension between China and the US brought the Shanghai Composite down 0.1 per cent.
European markets are likely to start the day sluggishly. The FTSE 100 will open 0.28 per cent down at 7,720, while the German Dax will lose 0.4 per cent to open at 12,625, and France's Cac will shed 0.43 per cent to open at 5,479, according to IG Squawk.
Corporate news
- Dairy Crest – releases its final dividend payment date
- Ryanair – is preparing for one in six flights to be cancelled today as pilots stage a 24-hour walkout
- JP Morgan – Multi-Asset Trust announces its interim dividend payment date
Data
- 9.30 – UK Gross Domestic Product (quarter two)
- 9.30 – UK Industrial and Manufacturing production (June)
- 13.30 – US Consumer Price Index (July)
