U.S. stocks rose, with the Standard & Poor’s 500 Index closing above 1,900 for the first time, after an increase in home purchases boosted confidence in the economy. The euro weakened to a three-month low and oil advanced, while copper led industrial metals higher.
The pound declined the most against the dollar in three months as investors bet a rally that pushed the U.K. currency to a four-year high this week boosted the appeal of U.S. assets over those in Europe.
Emerging-market currencies gained for a fourth day before a U.S. payrolls report forecast to show employers added the most jobs since November, a sign the world’s largest economy will lead global growth.
Not since early 2011 have investors set up as many trades seeking to profit from the pound’s advance as they have this month, and with the currency already having gained 14 percent from last year’s low, that’s making strategists nervous.
Former Bankas Snoras AB owners Vladimir Antonov and Raimondas Baranauskas, who are fighting extradition to Lithuania to face fraud charges, aren’t part of a “grand conspiracy” that would deny them a fair trial, a lawyer for the country told a London court.
Ukraine’s hryvnia plunged to an all- time low and the nation’s 2023 Eurobonds slid for a third day as a dispute over gas prices exacerbated the standoff with Russia amid continued unrest in the country’s east.