Global stocks markets notched further gains on Monday, while the dollar stayed on the back foot, as investors bet the new head of the US Federal Reserve.
MSCI’s index of world stocks was up 0.4 percent, with the pan-European Stoxx 600 up 0.7 per cent. Asian markets were seen higher.
US stock markets calmed on Friday after the Fed said it saw steady economic growth continuing and no serious risks on the horizon.
The dollar surrendered early gains to dip 0.3 per cent against a basket of currencies to 89.66. That followed a 0.8 per cent bounce last week, reports Reuters.
Sterling was up 0.5 per cent today after Bank of England deputy governor said the bank might need to raise interest rates somewhat sooner than he had expected if wage growth picked up early this year.
The pound also benefited from hopes that Britain’s exit from the European Union might be less disruptive than feared.
The euro was 0.3 per cent firmer on the back of dollar weakness.
Oil prices steadied after hitting their highest level in nearly three weeks.