A gauge of global equity markets rose on Wednesday, February 24, after Federal Reserve Chair Jerome Powell said interest rates will remain low, calming market jitters sparked by a jump in United States Treasury yields on fears that a robust recovery would drive inflation higher.
The dollar slid to multi-year lows against the pound and commodity-linked currencies including the Canadian, Australian, and New Zealand dollars, as they are expected to benefit from a pickup in global trade as world growth rebounds. "If you look at commodity prices, you look at real estate prices, and you look at energy prices, they're up significantly higher than even pre-pandemic levels," Leary said.
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