From the FINANCIAL TIMES:
21.05 BST The dollar has slid to its lowest level in three years as a mixture of weaker-than-expected economic growth in the US, higher inflation and extended low rates from the Fed take their toll on confidence in the economy.
But the cheap money binge continues to provide support for equities, with stock markets throwing off early stupor to rise on the back of yet another day of forecast-beating earnings and the S&P 500 hitting a fresh post-crisis peak. Gold and the Australian dollar have hit new highs as well while silver is closing in on its 30-year record.
The FTSE All-World Index is up 0.9 per cent, its highest level since the financial crisis of 2008. Wall Street has reversed early losses and European bourses have hung on to their gains in spite of the fact that US GDP growth fell from 3.1 per cent in the fourth quarter to 1.8 per cent in the first quarter…
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