European stocks slipped and the dollar strengthened on Thursday after the Federal Reserve took an upbeat view of the world’s largest economy and signaled it was on track to raise interest rates this year.
The stronger dollar helped push U.S. oil prices to six-year lows and weighed on the price of gold.
Greece, where an anti-austerity prime minister took over on Monday, also kept investors nervous, although Greek shares regained some ground after falling 9.2 percent on Wednesday.
The Fed, after a two-day policy meeting, said it would be “patient” and would take international developments into account in deciding when to raise borrowing costs. Some saw that as indicating any rate increase could be delayed.
U.S. shares, which closed lower on Wednesday after the Fed statement, with energy stocks weakening, were set to open modestly higher, according to stock index futures. SPc1 DJc1.
German government bond yields fell, as did U.S. Treasuries, on this dovish view. U.S. 30-year bond yields US30YT=RR reached a record low on Wednesday. Concern over Greece, whose new government opposes the terms of Greece’s international bailout, also boosted demand for low-risk debt.
via Reuters
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