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The Dow added 0.45% to a record 51,308, lagging tech but lifted by the broad risk-on tone.

Its value tilt means the Dow rides the rally without the semiconductor turbocharge — steady rather than spectacular.

51,000 is first support; rotation breadth will decide whether the Dow keeps pace with the Nasdaq.

Cable was steady at 1.3464 even as gilts slumped on political risk tied to a reported Burnham leadership challenge to Starmer.

UK fiscal and political jitters are capping sterling despite a broadly soft dollar, leaving the pair range-bound.

1.3400 support and 1.3550 resistance frame the range; gilt headlines are the near-term swing factor.