The pound was expected to suffer another weak day's trading today although shares jumped on the back of hopes of increases in the oil price and other key commodities.
Shares in BP were among the biggest risers as the oil price looked set for something of a rally as govenrments gradually eased their lockdowns. Mining stocks Glencore and Anglo Amercan also made strong starts to the day amid hopes a return of industry would boost their stricken businesses.
The FTSE-100 jumped 99 points to 5854.52 within the first hour of trading.
Overnight falls in the Australian economic data made clear the global extent of the crisis as it reported record low construction and services activity. The Australian central bank kept its interest rates on hold having already pushed through massive stimulus measures. Data known as the Purchasing Managers' Index in the US will give a better picture of the world's biggest economy's manufacturing base, while the country's trade deficit is forecast to have surged to $44 billion in March largely due to shortfalls in sales of US goods to China.
Closer to home, the price of goods leaving European factories are expected to be shown weak - a lead indicator for inflation.
Weak service sector PMIs in the UK are expected to add to the pressure facing the pound, which has been extremely weak throughout the crisis.
Swissquote analysts were bearish on the pound's fortunes, although they said much may depend on the UK government's plans to reopen the economy.
