BLOOMBERG.COM
The dollar strengthened the most in two weeks as hawkish comments from a Federal Reserve official spurred wagers that U.S. interest rates will rise before the end of the year. The pound slumped to its weakest level since 1985, while stocks in Europe rallied. The greenback extended its winning run versus the yen to a sixth day as a Bank of Japan survey showed companies trimmed their inflation forecasts. Sterling tumbled on mounting investor concern that the U.K. is heading for a so-called hard Brexit. European stocks were set for their longest run without losses in a year, fueled by a recovery in banks and a rally in Britain’s equities that sent the FTSE 100 Index above its highest-ever close. Italy’s longer-dated bonds underperformed before the country’s first sale of 50-year securities. The Bloomberg Commodity Index fell as crude oil retreated from a three-month high.
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The dollar strengthened the most in two weeks as hawkish comments from a Federal Reserve official spurred wagers that U.S. interest rates will rise before the end of the year. The pound slumped to its weakest level since 1985, while stocks in Europe rallied. The greenback extended its winning run versus the yen to a sixth day as a Bank of Japan survey showed companies trimmed their inflation forecasts. Sterling tumbled on mounting investor concern that the U.K. is heading for a so-called hard Brexit. European stocks were set for their longest run without losses in a year, fueled by a recovery in banks and a rally in Britain’s equities that sent the FTSE 100 Index above its highest-ever close. Italy’s longer-dated bonds underperformed before the country’s first sale of 50-year securities. The Bloomberg Commodity Index fell as crude oil retreated from a three-month high.
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