NZD climbs above US72c on European Central Bank minutes

DailyFX US AM Digest US Dollar at Three Year Low versus the Euro

Kashkari's motivation was to allow United States inflation rates and wage growth to push higher, but the sentiment concerned traders who are looking forward to three or possibly four interest rate hikes in 2018.

And now sterling has fallen by 0.5 percent against the euro, after the ECB's most recent announcement.

Analysts said the minutes were interpreted by markets as a sign that rate-setters may accelerate the timeline on winding down their 2.55 trillion euros bond-buying programme, the key plank of their stimulus policy for the past three years.

UK's benchmark FTSE 100 closed up by 0.2 percent, the pan-European FTSEurofirst 300 ended the day down by 0.23 percent, Germany's Dax ended down by 0.6 percent, France's CAC finished the day down by 0.3 percent. Also on deck Friday will be USA inflation data, which would drive the euro-dollar pair further.

"ECB minutes were interpreted on the hawkish side due to a discussion of a "gradual shift" in guidance from "early 2018" - much earlier than had previously been discussed", ANZ Research said on Friday. The euro bought $1.2119, trading around its highest level since January three years ago.

Optimism about fourth-quarter earnings boosted stocks.

MSCI's broadest gauge of the world's stock markets also hit a record high on Thursday, having risen in seven of the eight business days so far this year for a total increase of 3.3 percent.

The dollar index was down by 0.05% to 91.81 as of 11.57am Shanghai time.

DailyFX US AM Digest US Dollar at Three Year Low versus the Euro
NZD climbs above US72c on European Central Bank minutes

The euro zoomed up to $1.2037 from $1.1949 late Wednesday in NY.

"Our target for USA 10-year treasuries is 2.8 - and we might afford up to 3 per cent - but going beyond that it's becoming an alert signal", said Amundi's Defend.

The kiwi gained to 4.7080 Chinese yuan from 4.6838 yuan on Thursday after the Chinese government quashed speculation it was considering cutting its purchases of US Treasuries.

Sterling slipped to a one-week low against the euro Thursday, as the single currency soared on talk that the European Central Bank could start to change its message of expansionary monetary policy in the coming months.

In the US bond market, benchmark 10-year notes last fell 3/32 in price to yield 2.5605 percent, from 2.549 percent late on Wednesday. Sterling GBP= was last trading at $1.3731, up 0.03 percent.

The SPD are considered heavily pro-Europe, with leader Martin Schulz past year arguing for closer ties and calling for a "United States of Europe".

Brent crude futures were little changed for day at $69.28 a barrel after hitting $70.05 a barrel during the previous session, its highest level since November 2014.

GERMAN TALKS: Chancellor Angela Merkel's conservatives and the center-left Social Democrats took a big step toward forming a new German government.


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