Ah but we do lead well most of the time.
How often do we have a big day after a nothing US night.
Then FTSE ignores us and copies the US.
Then the US copies us.
Next day we open strongly in the same direction, then realise we have already done that percentage move and reverse.
Sometimes we get it wrong.
Yes we are influenced by Japan etc, so I am not suggesting we are the major influence, more like we either know or anticipate what the US will do rather than reacting.
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