Home Economy Dollar hits 8-day high on Fed talk, European stocks at record peak

Dollar hits 8-day high on Fed talk, European stocks at record peak

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  • U.S. S&P futures up 0.24%
  • Australian stocks hit record closing high
  • Oil prices up on rising Middle East tensions

LONDON, Aug 5 (Reuters) – The dollar hit eight-day highs on Thursday after hawkish remarks from a senior U.S. Federal Reserve official, while European stocks hit record highs on strong company earnings.

U.S. S&P 500 e-mini futures were up 0.24%, indicating a stronger open on Wall Street, after the S&P (.SPX) receded from a record high on Wednesday.

Many stock markets around the world have been on a storming run in the past year, boosted by billions of dollars in monetary and fiscal stimulus.

Investors are focused on whether some of that stimulus could be rolled back.

U.S. Federal Reserve Vice Chair Richard Clarida, a major architect of the Fed’s new policy strategy, said on Wednesday he felt the conditions for raising interest rates could be met by the end of 2022, raising expectations the central bank could scale back its bond-buying programme…

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