FTSE 100 hits record high as pound weakens below $1.23

A further weakening of sterling has helped push the FTSE 100 to a record high during trading on Tuesday. The FTSE 100 consists largely of export-dominated multi-nationals which make the bulk of their sales in dollars - making the stocks of such firms more attractive when those sales are converted back to pounds. The new record for the FTSE was marked as sterling slid back below $1.23 - with more bloodshed for the currency seen likely in the wake of the so-called 'flash crash' last Friday am