BREAKING: Stocks Higher, Dollar Extends Losses on Biden’s Win

SYDNEY (Reuters) - Wall Street stock futures started strong on Monday while the dollar extended its downward trend as risk assets got a boost on expectations of fewer regulatory changes and more monetary stimulus under U.S. president-elect Joe Biden.

E-mini futures for the S&P 500 jumped 0.6% on Monday, signalling a positive start for U.S. markets.

MSCI’s broadest index of Asia Pacific shares outside of Japan inched up 0.1%, after climbing 6.2% last week to clock its best weekly performance since early June.

Investor focus will also be on sterling and the euro this week with UK-EU trade negotiations coming to a head with the EU summit on Nov. 15.

Later in the day, the Bank of England chief economist will give a speech on ‘The economic impact of coronavirus and long-term implications for the UK’.

The euro, which climbed 1.9% last week, was a shade higher on Monday at $1.1887. Sterling was a shade weaker at $1.3146. That left the dollar index off 0.1%. Gold climbed, with spot prices up 0.36% at 1,958.7 an ounce.

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