Dollar rallies following strong manufacturing data, while minutes from the Federal Reserve’s December FOMC meeting show support for more gradual interest rate hikes. The dollar closed the day more than half a percentage point higher against sterling and the Swissie, and 0.367 percent higher against EUR.

EUR/USD regained some strength overnight and trades at 1.2038 from a day’s low of 1.2004. GBP/USD is up to 1.3524.

Today, the buck is still buoyed against the yen, supported by policy divergence between the Fed and Bank of Japan. USD/JPY holds above 112.50 at the time of writing.

Gold swayed between 1305 and 1313 overnight. The shiny metal remains in a strong bullish trend but support at 1300 will be key.

Global indices soared as oil prices reached levels last seen in June 2015 as global growth expectations and increased geopolitical risks kept the commodity in a positive momentum. Asian shares climbed to record highs as Japanese stocks jumped higher, while US stocks extended record highs with the S&P500 climbing above 2,700.