Global stocks near one-month high as the dollar hits a three-week high
Bullish comments by the US Fed chairman boost the dollar, as gold sinks to a year low; Wall Street trades at a five-month highs as earnings roll in
New York — The dollar hit a three-week high on Wednesday against a basket of major currencies in the wake of an upbeat view of the economy by the US Federal Reserve, while oil prices resumed a recent pullback and gold slumped to a year low. A gauge of global stock markets hovered at a one-month high while Wall Street traded near a five-month high as investors digested another significant day of corporate earnings. The dollar index, which measures the greenback against a basket of six currencies, rose 0.18%, to 95.113 after rising as high 95.407. The euro was down 0.13% to $1.1644. Demand increased after upbeat comments from Federal Reserve chairman Jerome Powell about the US economy in congressional testimony on Tuesday, a message he reiterated on Wednesday before a US House panel. "Strengthening economic growth and a confident Fed is helping support the dollar," said Alan Gayle, president of Via Nova Investment Management in Virginia. "Higher short-term interest rates make the doll...
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