Global stocks ended a bruising three week run of losses, boosted by a retreating Dollar on expectations that US inflation is at, or close to, a peak. The blue-chip S&P 500 and technology focussed Nasdaq indices returned 4.7% and 5.5% respectively.
Whilst some market participants are ready to speculate that US inflation is near a peak, central bankers didn’t ease up on their message that they will keep raising interest rates to ensure inflation doesn’t become entrenched.
However, a noticeable change from recent months is that other central banks are talking, and beginning to act, just as tough as the US Federal Reserve which has taken some of the steam out of the Dollar’s ascent.
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