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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window) Cineworld shines on UK reopening Lagarde says too early to discuss policy change Several European markets closed for holiday
May 24 (Reuters) - European stocks closed in on record highs
on Monday as investors counted on continued economic recovery
and strength in corporate earnings to keep the market momentum
going.
The pan-European STOXX 600 index rose 0.2% to
445.10 points, just below its record high of 446.19 points.
Trading activity was subdued with markets in Austria,
Denmark, Hungary, Norway, Switzerland and Germany closed for
Dollar Soars Up Hovering Near Three-Month Low albawaba.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albawaba.com Daily Mail and Mail on Sunday newspapers.
5/21/2021 3:14:18 PM GMT
Central bankers struggle between economic progress and high levels of uncertainty.
Steady growth should fuel inflationary concerns and hurt the dollar further.
EUR/USD bullish potential remains intact, market players eyeing 1.2349, the year’s high.
The EUR/USD pair trades above 1.2200, as the greenback fell this past week, on the back of speculation that the US Federal Reserve will have to tighten its ultra-loose monetary policy sooner than anticipated. Fed chief Jerome Powell has repeated multiple times that the current policy will remain in place until they see “substantial further progress” toward its goals of full employment and price stability.
ChinaDollar near 3-month low, weighed by Fed s dovish tilt
Hideyuki Sano
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Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File Photo
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The dollar stood near its lowest level in three months against a resurgent euro, and traders pared earlier bets the Federal Reserve may move soon to taper its stimulus though markets were not fully convinced that higher U.S. inflation is transient.
The dollar index, measuring the greenback against a basket of six currencies, was hovering at 90.045 , a tad above a three-month low of 89.646 set on Friday.
2 Min Read
(Reuters) -European stocks held close to record highs on Monday with technology stocks leading the charge, as investors counted on strength in corporate earnings to keep the market momentum going.
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 20, 2021. REUTERS/Staff
The pan-European STOXX 600 index rose 0.1% to 445.07 points, just below its record high of 446.19 points.
European technology stocks jumped 1%, while more economy-sensitive sectors such as banks and basic resources traded in the red.
“Our near-term focus on the reflation trade and sectors like energy and financials is not as interesting as the case for growth and technology,” said Mark Haefele, chief investment officer of global wealth management at UBS.