Energy Markets
Dollar suffers as stocks take a break and the Fed's rate cuts continue.
The U.S. Dollar was under pressure Thursday, as traders bet that the Federal Reserve would resume cutting interest rates in January. Bitcoin reached a new record high while global stock markets took a break from their blistering rally. MSCI's measure of Asia ex-Japan equities remained near its highest level since September 2021. It took cues from Wall Street where the S&P 500 index and Nasdaq closed at new highs for a second consecutive day. The MSCI All Country World Index reached a new record on Wednesday, and was nearly flat the following day. The futures markets suggested that European and...