Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
Global stock markets ended on record highs on Friday, while the US dollar slumped to a more than three-year low against the euro.
Dollar extended its losses on expectations that European Central Bank policymakers are preparing to reduce their stimulus.
US stocks rose with bank shares, which climbed following quarterly results from JPMorgan Chase & Co and Wells Fargo, reports Reuters.
The euro’s rise weighed on the dollar index, which measures the greenback against six rival currencies. The index was down 0.94 per cent, after slipping to a four-month low of 90.954.
The dollar index was down 1.23 per cent for the year, its worst performance over the first nine trading days since 2010, according to Reuters data.
Sterling rocketed to its highest level against the dollar since the vote to leave the European Union. Sterling was last trading at $1.373, up 1.43 per cent.
US stock indexes hit all-time highs, along with the MSCI world index. Strong U.S December retail sales data also helped stocks.
The pan-European FTSEurofirst 300 index rose 0.23 per cent and MSCI’s gauge of stocks across the globe gained 0.72 per cent.
A robust US inflation report boosted Treasury yields.
The two-year yield, sensitive to traders’ views on interest rates, rose to more than 2.0 per cent for the first time since the financial crisis.
Oil prices rose for a sixth day. US crude oil rose 50 cents to settle at $64.30 a barrel, while Brent rose 61 cents to settle at $69.87.