Stocks & currencies close to one-year highs

Emerging market stocks and currencies are closing in on one-year highs as the prospect for more central bank economic stimulus in key markets will boost growth.

The optimism surrounding stimulus is buoyed by a better-than-expected US jobs report.

The Bank of England revealed a new stimulus package on Thursday, similar to recent packages by the central banks in Japan and Australia, to boost the economy and maintain global growth.

The US jobs report revealed an increase of 255,000 workers in the month of July, far surpassing all estimates and indicating a sustained growth.

The MSCI Emerging Markets Index gained 1 per cent and 13 per cent in 2016, compared to 3.6 per cent for developed market equities.

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Read more at Bloomberg.