GBP: FTSE 100 hits record 8984.98 as UK equities surge

The UK's FTSE 100 index reached a new intraday record of 8984.98, surpassing Friday's previous high of 8918.49 and advancing 40 points or 0.42% on the day. This milestone reflects renewed investor confidence in UK equities, potentially supporting GBP sentiment through positive risk flows. The index has shown remarkable recovery from its 2024 low of 7544.83 reached in March, when it peaked at 8908.82 before the correction. The record-breaking performance suggests improving market conditions and could attract further international investment into UK assets. For GBP traders, sustained equity strength typically correlates with currency appreciation, though the pound's reaction remains contingent on upcoming UK economic data and Bank of England policy expectations. Technical momentum in UK stocks may provide underlying support for GBP crosses in the near term.