18/03/2010 4:39:13 AM
* Global stocks gain after Fed, BoJ spur risk appetite
* Dollar eases after Fed reiterates low-rate pledge
* Oil tops $82 as OPEC leaves output targets unchanged
* Long-dated Treasuries rise as U.S. producer prices fall (Updates with close of European markets)
By Herbert Lash
NEW YORK, March 17 (Reuters) – World stocks and commodity prices rose on Wednesday after a drop in one reading of U.S. inflation added weight to a Federal Reserve pledge to keep interest rates low for some time, boosting risk appetite.
The Dow industrials gained for a sixth straight session to hit an intraday 17-month high, while a major pan-European stock index surged to a 17-month closing high.
The U.S. dollar fell against higher-yielding currencies such as the Australian dollar, while the yen weakened as commitments by both the Fed and the Bank of Japan to low rates instilled confidence in investors to seek higher returns elsewhere. For details see:
