World stocks hit 7-week highs, dollar squeezed vs yen

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Reuters UK

By Carolyn Cohn and Wayne Cole LONDON/SYDNEY (Reuters) – World stocks hit seven-week highs on Monday, buoyed by recent strong corporate earnings and declining expectations for hefty interest rate rises, while the dollar slid against the yen as speculators exited suddenly unprofitable short positions. Global shares gained 7% last month and bond markets rallied as investors started to look for a peak in official interest rates, given slowing economic growth. Markets have gathered steam after last week’s 75-basis-point Federal Reserve hike and comments on the economy from Fed chair Jerome Powell….

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