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The dollar climbed to a nearly 2 1/2-year peak against the yen Friday after minutes from the Fed's meeting the previous day showed growing concern about further stimulus for the economy.
European shares extended gains to set a new 22-month high on Friday, after a better-than-expected U.S. jobs data.
Asian shares ended mostly lower on Friday, tracking overnight weakness in global equities after several Fed officials expressed concerns about continuing to expand stimulative bond buying. But, Japanese stocks surged as the market played catch-up with the region on its first trading day of 2013.
The dollar climbed to a three-week high against a basket of currencies as concerns about budget wrangling in Washington drove investors to the U.S. currency.
European shares finished mixed Thursday, while the Swiss SMI index soared over 2 percent, catching up on gains following the U.S. "fiscal cliff" deal.
Stephen Sheung, VP & Investment Strategist, SHK Private says that as regulation eases to allow more foreign players, Chinese stocks will trade closer to fundamentals.
The dollar suffered against higher-yielding currencies after U.S. lawmakers approved a last-minute deal to avert huge tax rises and spending cuts, spurring demand for riskier investments.
Richard Yetsenga, Head of Global Markets Research, ANZ says the latest official PMI data shows that China's economy is off to a strong start. He adds that the CNY is emerging as a stand out currency.
European stocks were flat in early afternoon trading on Monday as fears over a lack of resolution to the U.S.' "fiscal cliff" weighed on sentiment.
Asian shares closed lower on Monday, with uncertainty over U.S. budget negotiations weighing on stocks on the last trading day of the year and trading volumes relatively subdued with many markets closed for New Year's Day.
The U.S. dollar edged up to a two-week high against major currencies Friday as investors waited to see if U.S. politicians can strike a last-minute budget deal.
European shares ended in negative territory Friday as investors remained cautious over the looming "fiscal cliff" and following some weak economic reports.
As central banks in both the U.S. and Japan look set to continue aggressive monetary easing policies in 2013, Dan Harden, senior commercial dealer at Global Reach Partners has told CNBC traders should short both countries' currencies and look for high yields from the Australian and New Zealand dollar.
China's central bank will use various tools to ensure steady credit growth to support the economy while pursuing financial reform in the face of weakness and uncertainty in the global economic outlook, it said in comments published on Friday.
Jack Bouroudjian, CEO, Bull and Bear Partners says the dust has finally settled in China as the leadership handover is complete, which means capital will start flowing back to markets.
The yen fell to its lowest against the dollar in more than two years on Thursday, on expectations Tokyo will push for aggressive monetary stimulus.
Asian shares closed higher on Wednesday in thin holiday trade despite a lack of fresh triggers. Japanese shares managed to outperform, hitting a 9-month high thanks to a weak yen.
Japan's Nikkei stock average could rally nearly 30 percent in 2013 due to an aggressive push to reflate the economy under the country's new premier, the chief executive of Daiwa Securities Group told Reuters.
Risk-sensitive currencies are unbowed by 'fiscal cliff' worries and Japan's incoming prime minister talks tough - it's time for your FX Fix.
European stocks closed slightly lower in a shortened day of trading on Monday. The FTSE 100 index was the main exception closing higher by 0.24 percent.