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FTSE 100 ends lower as pound jumps after inflation rises further in June
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ASX set to slip as Wall Street takes a wobble
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By Paul J. Davies The dollar has slipped this month as the Federal Reserve stuck to its message that it won t raise interest rates soon despite forecasts that the U.S. economy will recover faster than its peers. The greenback is down more than 1% against the currencies of its biggest trading partners so far in April. Before a slight rise Friday morning, the dollar had seen its worst seven-day losing streak since December. The fall in the greenback interrupts a rally so far this year: The ICE Dollar Index climbed about 4% from early January to the end of March. The dollar s weakness is unlikely to last because the U.S. economy is expected to outpace others, according to Oliver Brennan, head of research at TS Lombard in London.
By Syndicated Content
By Mike Dolan
LONDON (Reuters) - While everyone was watching the hullabaloo over GameStop and the related short selling pain this week, 10-year U.S. Treasury borrowing costs reversed briefly back below 1% - underlining why stocks are at such lofty levels in the first place.
The pandemic is far from over. Central banks are going nowhere. Government spending will ramp up again sooner rather than later and a vaccine-led recovery later this year is still seen as the most likely outcome - even if delayed and messier than thought a month ago. Digital and clean energy mega-trends roll on regardless.
RPT-COLUMN-Even shocks like COVID were on the radar s edge: Mike Dolan
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