World shares underpinned, dollar undermined by dovish Fed wagers

Wall Street looked to a flat open as the dollar tipped lower on Monday off the back of last week’s surging stock markets as expectations the U.S. economy would dodge a recession and cooling inflation would kick off a cycle of interest rate cuts.

The prospect of lower borrowing costs could not sustain gold’s historic highs and the dollar dipped against the euro, while the yen lunged higher.

Both S&P 500 futures and Nasdaq futures were trading around flat at 1215 BST.