As currency markets are a barometer of a nation's economic health and prospects, relative to others, many fear that investors are losing faith in the UK after the Brexit vote. Others argue speculative forces have exaggerated sterling movements and suggest the fundamentals of the UK economy are sound.
FTSE CLOSE: Footsie falls after hitting record high as US stocks start lower on oil price retreat, Alcoa earnings
The FTSE 100 closed down 26.62 points at 7070.88, slumping back from a new record trading high of 7,129.83 at lunchtime. Today's market moves came as the pound dropped to $1.22 against the US dollar, while Brent crude gave back some of its recent gains to trade at $52.27 a barrel. The US Dow Jones fell 185.3 to 18,143.8 as the third-quarter earning season got off to a poor start with disappointing figures from aluminium giant Alcoa. Germany's DAX dropped 46.9 points to 10,577.20 while France's CAC 40 was off 25.5 points at 4,471.7.
Is the greatest threat to the euro flying under the radar? How a culture clash between Germany and France threatens to destabilise the currency
Men are from Mars, Women are from Venus according to the self-help classic. Well, the same could be said about Germany and France, Princeton professors Markus K. Brunnermeier and Harold James explain. Their divergent views are rocking the eurozone and could have an impact on Brexit too, they explain in the latest episode of the Big Money Questions show.
RBS destroyed customers' businesses for profit and rewarded staff who targeted struggling firms, leaked files suggest
The Royal Bank of Scotland has come under increased scrutiny today after leaked files emerged which show it deliberately destroyed customers' businesses in order to boost profits. New documents show 'project dash for cash' which crippled firms and dangled hefty bonuses to staff who targeted firms to be 'restructured.'
Bank accounts are closed by 'kangaroo courts' says TONY HETHERINGTON as another customer is evicted without explanation
I saw your article about Barclays dumping a client who had £94,000 in his account - apparently for reasons involving alleged money laundering - and thought the guy was probably innocent. I have had similar treatment. I am an independent financial adviser, so have to be whiter than white, but my bank, HSBC, does not listen.
I went to buy online at BHS but spotted two different websites - are they the same company or is one a scam?
I was about to buy a lamp I wanted on the new BHS website but before I did, I had another search online and found a differing BHS website. If you check out BHS.com and BHSdirect.co.uk, they both appear to be using branding from the old high street brand. Are they both the same or is one a scam? I would like to know before ordering anything.
'If I have money, I always buy property' says Loose Women's Saira Khan who went from a modest upbringing to being paid over £100k for Celebrity Big Brother
Loose Women star Saira Khan earned more than £100,000 for spending just 12 days in the Celebrity Big Brother house - but takes great pride in wearing £14 dresses from charity shops on a night out at the opera. Khan, 46, shot to fame when she took part in the first ever series of reality TV show The Apprentice, which returned to our screens last Thursday for the 12th time. Although she did not win, Lord Sugar was so impressed he gave her a job with a six-figure salary.
Big Four supermarkets lose £5 to £7 on every online order: How chasing internet shoppers is 'like selling tenners for a fiver'
Dan Murphy, a partner at global retail consultants Kurt Salmon, is warning that supermarkets are caught in an 'Emperor's new clothes' scenario and have 'blinded themselves to the reality' of the loss-making nature of food delivery. 'They lose between £5 and £7 on every order and the more orders they attract and more it grows the more they lose,' he said.
Investing Show: Banks are suffering but they're good value in an expensive market, says Richard Buxton
Investors need to be bold to hold banks right now, but experienced fund manager Richard Buxton is sticking to his guns. He reveals why he is looking for value, as defensive stocks look expensive. And with the stock market soaring even as the pound has taken a beating, he explains what's going on and why that means big blue-chip dollar earners could make a good buy.
Banksy has turned spray painting into an art form worth a fortune: What to watch out for when investing in street art
On Wednesday the London-based Forum Auctions will be auctioning off more than 40 original Banksy prints - expected to sell for between £1,000 and £70,000 each. These prints are limited edition copies made by Banksy of his graffiti wall art. One of the most iconic is Girl With Balloon and it has an estimated sales value of between £50,000 and £70,000. When first produced in 2004 these signed prints were available for £150.
Confused about 'hard' and 'soft' Brexit, the Norway model and the Swiss solution? This handy table explains the options for the UK's exit from the EU
Despite endless media coverage of the political wrangling and financial speculation, the average Briton can be forgiven for remaining confused about what 'soft' and 'hard' Brexit really mean. About the difference between the 'Norway model' for the UK's post-Brexit relationship with the UK and the 'Swiss solution'. But a clever table put together by HSBC in a report called 'Is Brexit Getting Harder?' cleaves some clarity from the murk.
Pure Gym pulls the plug on its IPO, blaming market volatility and 'challenging conditions' for investors
Pure Gym said that pursuing a listing 'in this period of market volatility is not in the long-term interests of the company and its stakeholders'. Listings on the UK stock market had been expected to bounce back following a post-Brexit vote slump. But the recent 'flash crash' by the pound and growing uncertainty about Britain's relationship with the European Union, triggered in part by speeches at last week's Conservative Party conference, have dampened confidence.
The luxury footwear maker appears to be weathering the unease in consumer markets. It is still one of the fastest growing luxury brands in the world and, crucially for UK investors, this London-listed fashion name is set to benefit hugely from the slump in the value of the pound. In the first half of this year, the company announced global revenues were up 3.8% on the same period last year on a constant currency basis. This means applying the same exchange rate for the two periods. On a reported currency basis, which shows the effect of currency changes, revenues rose 9.2%.
A bakery for dogs? Four Legged Fancies' canine confections are going down a treat with pet lovers and winning celebrity fans
You might not think twice about treating your friends and family to a slice of cake, but would you do the same for your dog? It may sound like an indulgence too far, but Victoria Stent, owner of the Four Legged Fancies bakery for dogs, says a positive message lies behind her canine confections. We found out how she is setting tails and tongues wagging.
The ultimate auction for Porsche fans: Rare, exotic and dilapidated models spanning 50 years go under the hammer (and there's even a tractor)
If you have a penchant for Porsches then this upcoming auction will send you into a frenzy of air-cooled, Targa-topped, flat-six celebration. It's the Porsche Club Great Britain's sale taking place on October 15, at the Silverstone race circuit in Northamptonshire, and it features some of the most collectible cars the German brand has ever created. We've picked our 25 favourites, covering cars from 1959 right through to 2010 with a few surprises along the way.
The cheapest travel destinations revealed... and why where you fly from and what day you book can affect the cost of your holiday
What day you usually fly on? If it's a Sunday instead of a Tuesday did you know you could be spending £145 more per person? Not only can the day of the trip cost you more, the destination and where you book from can have a big impact on the final cost, according to new research. Ireland is the cheapest place to fly to from the UK, with flights priced at £90.98 on average, followed by the Netherlands at £94, other UK destinations at £96.62 and Denmark at £112.56. While flights to the United Arab Emirates are the cheapest for long-haul destinations, according to data taken from 2.1 million flights booked between August 2015 and July 2016 on the website Cheapflights.co.uk.
From woodburners and rugs to wool curtains and solar panels: How to minimise heat loss and make your home cosy for the chilly months ahead
Getting your own home in shape requires a dose of creativity. Start with the basics and look at clever ways to minimise heat loss. Getting your own home in shape requires a dose of creativity. Start with the basics and look at clever ways to minimise heat loss. Loose window frames, poor glazing, ill-fitting doors and exposed floorboards are all culprits. Bear in mind that full-length curtains can trap radiator heat when drawn closed, so consider alternatives such as blinds and shorter drapes.
Buy-to-let mortgage tax relief battle backed by Cherie Blair hits the skids as court refuses full judicial review
Landlords campaigning against the hacking back of mortgage tax relief were dealt a bitter blow today. The Administrative Court did not grant permission to proceed with a full judicial review hearing of the legislation in the case led by Cherie Blair, CBE and QC of Omnia Strategy LLP, representing co-claimants Steve Bolton and Chris Cooper.
MINOR INVESTOR: If the pound keeps falling the FTSE 100 could hit 7,700, says Richard Buxton - crazy as that may sound
'At the moment, to be honest, it's very, very simple, it's all about the currency', said veteran fund manager Richard Buxton when we discussed the Footsie this week - and that means the stock market could keep rising. If sterling goes to 1.15 to the dollar as some are suggesting, he says the current trend could deliver a FTSE 100 at 7,700.
INVESTMENT CLINIC: I've inherited £50,000. Should I use it to overpay on my mortgage or to start investing?
The traditional advice when you have a large sum of money is to use it to get rid of any debt. That means credit cards, overdrafts and loans - and it also means mortgages. But many providers will charge you for early repayments, while lower interest rates mean offloading ahead of time is not as important as it was.
50 ways to save money: Simple steps to cut what you spend that could clear your debts or seriously boost your savings
To clear the average national household debt of ?13,000 at 6% interest with a monthly repayment of ?100 will take around 17 years. There are, however, plenty of simple ways to make significant savings on your regular spending that could clear your debt - or boost your savings - in less than a year. This is Money's top 50 - updated - money-saving tips may appear light-hearted but are deadly serious.
When will interest rates move? Rates could still be cut to 0.1% before the end of the year, economist suggests
Interest rates were held at 0.25 per cent in September and experts are divided on whether the Bank of England will cut again. Howard Archer, chief UK and European Economist at IHS Markit Global Insight, said: 'At this stage, we believe it is still just about more likely than not that the Bank of England will take interest rates down to 0.10 per cent from 0.25 per cent in November.'
The base rate has fallen to a new record low of 0.25% and could be cut again. But what does all of this mean for mortgage rates, which have been steadily falling over the past month to record lows?
For many buy-to-let looks an attractive income investment in a time of low rates and stock market volatility. Climbing house prices, rising rents and improving mortgage deals are tempting investors - although they will need a big deposit. Read This is Money's top ten buy-to-let tips
Best paid jobs 2015: Compare your salary to the national average in this league table of 350 professions - and see the year's winners and losers
Musicians have seen pay rises averaging nearly 20 per cent in 2015, while cleaners are getting 17.8 per cent more, and window cleaners 12.3 per cent. Artists in general are earning 14.6 per cent more in 2015 than 2014, according to the huge annual data dump of pay scales by the Office For National Statistics highlights.
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|Prize value||Winning bond No.||Area|
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|Updated 11 Oct 2016.|
|US Dollar||1.1881||Buy Now|
|Australian Dollar||1.5665||Buy Now|
|Canadian Dollar||1.5685||Buy Now|
|Chinese Yuan||7.8535||Buy Now|
|Croatian Kuna||7.9306||Buy Now|
|Czech Koruna||28.72||Buy Now|
|Danish Krone||7.8864||Buy Now|
|Egyptian Pound||9.4023||Buy Now|
|Hong Kong Dollar||9.1822||Buy Now|
|Hungarian Forint||320.04||Buy Now|
|Icelandic KrÃ³na||129.28||Buy Now|
|Israeli New Shekel||4.4074||Buy Now|
|Japanese Yen||123.55||Buy Now|
|Malaysian Ringgit||6.2624||Buy Now|
|Mexican Peso||22.192||Buy Now|
|New Turkish Lire||3.55||Buy Now|
|New Zealand Dollar||1.677||Buy Now|
|Norwegian Krone||9.575||Buy Now|
|Polish Zloty||4.5067||Buy Now|
|Singapore Dollar||1.6332||Buy Now|
|South African Rand||16.488||Buy Now|
|Swedish Krona||10.226||Buy Now|
|Swiss Franc||1.1684||Buy Now|
|Thai Baht||41.267||Buy Now|
|UAE Dirham||4.3612||Buy Now|