Reuters

The dollar fell to a five-week low against a basket of currencies on Friday as investors grew optimistic about the strength of the euro zone’s recovery and lost appetite for the greenback.

Sterling edged higher on Friday and is poised to post gains for a third consecutive week as markets interpreted latest comments from top EU policymakers as mildly positive for Brexit negotiations though gains were capped.

The euro hit a six-week high against the dollar on Friday, with investors optimistic about the strength of the euro zone’s recovery after strong economic data this week.

European shares held steady on Friday, underpinned by gains among heavyweight consumer goods firms as the pan-European STOXX 600 index was set to snap a two-week losing streak.

World stocks hovered below record highs on Friday, set to reverse two straight weeks of losses while the euro hit its highest levels in six weeks following stronger than expected economic data this week.

Retailers across Europe chased shoppers on “Black Friday” in a test of consumer confidence, particularly in Britain where the spending spree imported from the U.S. has become most popular.

Russia held its position as China’s top crude oil supplier for the eighth month in a row in October, customs data showed on Friday.

U.S. crude oil rose to a two-year high on Friday, as the shutdown of a major crude pipeline from Canada to the United States tightened North American markets.

Asian shares hovered below their 10-year peak on Friday while mainland Chinese shares dropped to three-month lows after big falls the previous day on concerns about fresh government steps to curb financial risks and an ongoing rout in the Chinese bond market.

Gold prices steadied on Thursday to trade nearly flat after rising nearly 1 percent in the previous session as the dollar extended its swoon amid reduced expectations for U.S. interest rate hikes next year.