© Reuters. FILE PHOTO: Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. REUTERS/Issei Kato/File Photo
By Chris Prentice and Wayne Cole
NEW YORK/SYDNEY (Reuters) -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 auction, while global oil futures gained $2 on the prospect of supply cuts.
The MSCI World Equity Index gained 0.72% by 2:41 p.m. EST (1941 GMT).
Europe’s benchmark STOXX index inched up 0.1%, with energy stocks leading gains. The healthcare sector fell after shares in Bayer (OTC:) dropped to their lowest in 14 years.
On Wall Street, the Nasdaq led gains as shares of Microsoft (NASDAQ:) hit record highs. The tech-heavy index rose 1.09% to 14,279.87, the Dow Jones gained 0.62% to 35,163.86 and the advanced 0.76% to 4,548.22.
The 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.
Japanese shares hit highs not seen since 1990, thanks to strong…
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