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Stocks drop continue, dollar gains
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Loading...The Bloomberg Dollar Spot Index rose for the first time this week as euro-longs kept bailing out and the pound came under pressure before the Bank of England’s policy decision. Euro’s failure to rise above $1.13 sees longs trimmed further. Pound drops a second day as retail sales slide before BOE.
A broad decline in commodities dragged European equities lower, while U.S. stock futures also dropped on a report the probe into Russian meddling in the 2016 election may also examine President Donald Trump’s conduct. The dollar edged higher after the Fed’s hawkish tone on Wednesday.
Bloomberg’s commodity index fell to the lowest in more than a year as copper dropped and oil fluctuated. That meant miners and energy explorers were among the big losers as the Stoxx Europe 600 Index retreated for a second day.
The dollar advanced after the Fed raised interest rates for the second time in 2017 and Chair Janet Yellen suggested the strength of the U.S. labor market will ultimately prevail over recent weakness in inflation.
Source: Bloomberg Pro Terminal
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