"The Fed's new language gives them the flexibility to let the economy run a little hotter before contemplating raising interest rates and gives the green light to more modest yield curve steepening and dollar weakness," economists at ING wrote in a note.
A Reuters poll of fund managers showed European stocks are expected to stall for the rest of 2020 and miss out on the bull market. Among individual stocks, WPP, the world's biggest advertising company, jumped 6.5 per cent as it resumed its dividend after cost cuts and a switch to faster ad production helped it beat dire forecasts for second-quarter trading.German online takeaway food group Delivery Hero slipped 4.7 per cent after announcing the acquisition of online grocery service InstaShop.
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