European Market Summary: Dollar Soft, European Stocks Hit Record Highs

Macro
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The dollar traded weakly against major currencies, while the STOXX Europe 600 index hit an all-time high during the session in European equity markets. The weaker-than-expected US jobs report released the previous day dampened expectations for an early Fed rate hike, driving dollar selling and boosting stocks. The dollar-yen pair stood at 161.25 yen, with the yen recovering from near 40-year lows, though caution persists over potential currency intervention by the government and the Bank of Japan. In London, financial stocks and precious metals miners gained, lifting the FTSE 100 index by 0.2 percent. In eurozone bond markets, the German 10-year government bond yield was on track for its first weekly rise in about a month.

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