Reuters

The U.S. dollar held around a nearly 14-month low against the euro on Thursday on growing expectations of more hawkish monetary policies in Europe and Canada.

The world’s top central bankers have delivered what seems to be a collective message this week that quantitative easing is being put back in its box and interest rates are going up.

The euro surged to its highest in over a year on Thursday, while sterling, bond yields and global shares also climbed.

The euro jetted past $1.14 to its highest in just under 14 months on Thursday.

The dollar wallowed close to one-year lows against the euro and slipped against sterling in Asian trading on Thursday, as investors priced in tighter monetary policy in Europe.

The euro hit a one-year high against the U.S. dollar on Wednesday and the British pound rallied on bets that Europe’s and Britain’s central banks are preparing to scale back monetary stimulus.

Oil futures climbed more than 1 percent on Wednesday to their highest in more than a week as buyers were encouraged by a small weekly decrease in U.S. production.

The euro hit a one-year high against the dollar on Wednesday and German 10-year Bund yields continued to rise after doubling the previous day,.

The euro surged to a one-year high on Wednesday, adding to its biggest daily gain in more than a year a day earlier.

Asian shares slumped on Wednesday after Wall Street was knocked hard in the wake of a delay to a U.S. healthcare reform vote.