Global markets rallied on Friday night following the announcement of fresh monetary stimulus from the Bank of Japan.
The S&P 500 and Dow Jones soared to new record highs, with the latter capping off its biggest weekly gain in almost two years.
European equities logged similarly powerful gains after the BOJ’s surprise decision to expand its quantitative easing program to 80 trillion yen a year, from 50 trillion yen currently.
Highlighting the widespread impact of the BOJ’s decision, gold sunk to its lowest since 2010 as the US dollar surged against the yen by almost three percent on Friday night.
The yen has continued its freefall this morning, whilst the greenback has gapped higher against its rivals as the BOJ’s stimulus announcement ignites fresh currency market turbulence.