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Global stocks climb, dollar dips as traders price accommodative Fed

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Global stocks rose to their highest in five months and the dollar dipped on Monday as traders began to price in an accommodative stance from the U.S.

European markets extended a run of gains, helped by a jump in shares in German lenders Deutsche Bank and Commerzbank after they confirmed over the weekend they were in talks to merge. The pan-European STOXX 600 index rose 0.3 percent, hitting a five-month high.Britain's FTSE 100 outperformed its European peers with a 0.

In particular focus will be the whether policymakers will have sufficiently lowered their interest rate forecasts to more closely align their"dot plot", a diagram showing individual policymakers' rate views for the next three years.Also expected is more detail on a plan to stop cutting the Fed's holdings of nearly US$3.8 trillion in bonds. The two-day meeting ends with a news conference on Wednesday.

A marked decline in Treasury yields has dragged on the dollar, leaving it at 111.53 yen from a top of 111.89 on Friday.

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Stocks climb, dollar dips as traders price accommodative FedGlobal stocks rose to their highest in five months and the dollar dipped on Monday as traders began to price in an accommodative stance from the U.S.
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