Sruthi Shankar

The common currency dropped 0.6% to $1.1096 - on track for its biggest daily fall in more than three months

World stocks have hit a record high after China unveiled stimulus measures to support its economy and stock markets, sending Asian and European shares higher and triggering a bounce in commodity prices.

China's big stimulus steps have helped nudge global stocks to all-time highs, while the yen firmed sharply against the dollar after Japan's former defence minister Shigeru Ishiba looked set to become the next prime minister.

Nvidia dethroned Apple as the world's most valuable company on Friday, following a record-setting rally in the stock powered by an insatiable demand for its new supercomputing AI chips.

NASDAQ-Adv: 1,962 Dec: 2,306 NYSE-Adv: 1,427 Dec: 2,541 (Source: Nasdaq)

(Reuters) -Wall Street's main indexes surged on Friday, rebounding from the previous session's selloff as Amazon's strong earnings countered Apple's weaker China sales as well as a significant drop in U.S. jobs growth in October.

UK stocks edged higher on Thursday, with luxury firm Burberry leading gains in the mid-cap index after unveiling a turnaround plan, while declines in mining stocks kept overall gains in check.

(Reuters) -UK stocks rose on Thursday, with luxury firm Burberry leading gains in the mid-cap index after unveiling a turnaround plan, while investors awaited speeches from finance minister Rachel Reeves and Bank of England chief Andrew Bailey. Burberry rallied almost 19%, logging its biggest single-day percentage gain, after it announced a turnaround plan to win back customers by focussing on trench coats and scarves and be less ambitious with prices on bags and shoes.

The main UK stock indexes eased on Tuesday from multi-week highs after U.S. President-elect Donald Trump's latest tariff proposal for some of the country's biggest trading partners sparked risk-off moves across global markets.

(Reuters) -European stocks dipped on Thursday, as investors braced for a rate cut from the European Central Bank and awaited hints on policy moves next year as the euro zone economy struggles with slowing growth and heightened political risks. Rate-sensitive euro zone bank shares rose 0.4%. The ECB is expected to cut interest rates again, with traders pricing in an 81% chance of a 25 bps reduction and a 19% chance of a 50 bps cut, as euro zone inflation nears target and the economy falters.