The dollar has continued to fall against major currencies.
On Wednesday it suffered its biggest one-day slump in at least twenty five years after the Federal Reserve said it will buy back large amounts of US government bonds to stimulate the economy. To do that essentially it will print more money. European shares finished up one percent with investors hopeful the recession can be shortened by the Federal Reserve’s plans. But the indexes had been higher earlier in the session and pulled back as investors fretted about the long term implications of pumping so much new money into the US economy. Banks were the biggest gainers including Barclays, HSBC, Standard Chartered, UBS, UniCredit and Credit Suisse. Miners and energy producers also rallied on higher commodities prices.