US Dollar At Lowest Since September, Global Stocks Gain  

• The U.S. dollar dropped to its lowest in more than two months on Monday on expectations that U.S. interest rates have peaked, as global equities rose. Closely watched U.S. treasury yields slipped after the auction, while global oil futures gained $2 on the prospect of supply cuts.
• The MSCI World Equity Index gained 0.72%. Europe's benchmark STOXX index inched up 0.1%, with energy stocks leading gains. On Wall Street, the Nasdaq led gains as shares of Microsoft hit record highs. The dollar index fell to 103.26, its weakest since the start of September, as investors appeared to solidify bets that the Fed could start cutting interest rates next year.
• Trading was expected to be muted for much of the week ahead of Thursday's U.S. Thanksgiving holiday. Black Friday sales will test the pulse of the consumer-driven U.S. economy this week. Minutes of the Fed's last meeting will offer some colour on policymakers' thinking as they held rates steady for a second time.
• Signs of progress in the battle against inflation in the United States have driven a recovery in stocks this year as investors hope for an end to the cycle of rate hikes that have been policymakers' main tool for fighting price increases on goods.

(Source: Reuters)