The market is still on a roll with the risk appetite still strong and the bullishness intact even ahead of the long Easter weekend as profit taking still did not affect the market!
Good fundamentals from the US and strong tech earnings from Intel and Apple supported the rally and triggered strong equity gains from Asia into Europe and ahead of the U.S bell.
The confidence in the global recovery was boosted once again sparking demand for risky assets and high-yielders and suppressing the dollar further which slumped to multiple years low.
Greenback's index slumped further today to the lows of 73.73 from the high of 74.40 and currently hovering around 73.86.
The rally did not offset the gains for the euro after the drop in German confidence, where it remained strong and merely normal for it to decline amid the uncertainty and rally in inflation with the ECB tightening. The EUR/USD trended further higher and expanded the week's gains to the high of 1.4648 from the low of 1.4503 and currently hovering around 1.4610.
As for sterling, the pound rally after the unexpected rise in retail sales which eased the fears over growth following the MPC comments on downbeat signals in the minutes yesterday. The GBP/USD rallied strongly higher to the high of 1.6573 from the low of 1.6384 and currently hovering around 1.6566.
The gains are seen across the board with aussie surging to a new record today at 1.0773 alongside gold that set a new high at $1,508.85 an ounce.
More volatility is expected into the end of the day's trading with markets existing gradually for a long Easter weekend and with the US data on queue for more sings of recovery.