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The FTSE 100 is noticeably outperforming the FTSE 250 given that it is dominated by globally diversified firms many of whom see over 80% of their revenue generated from non-UK sources, and thus the dramatic selloff in the pound is actually a net positive in terms of the FX conversion of their overseas earnings. But in US dollar terms the FTSE 100 is still down 8.7% from its high on Thursday, which is how most global asset managers would be looking at it. So it would be premature to say that Brexit concerns have totally dissipated from markets, and certainly listening to the hardened language from EU representatives overnight it is hard to envision how the UK stays in the single market.