Progress in US debt deal lift shares, dollar steadies
LONDON (REUTERS) - Firming hopes of United States deal to ensure the country does not default on its debt lifted world shares for a second day on Friday and put the dollar on course for its first weekly rise in five.
Republican lawmakers on Thursday offered a plan that would extend the US government's borrowing authority for several weeks, staving off a default that could otherwise come as soon as Oct 17.
While no deal emerged from a meeting with the Democrats at the White House, the two sides appeared ready to end a political crisis that has shuttered much of the US government for over a week and dented Washington's image worldwide.
Asian markets rallied overnight following on from Wall Street's strongest session since January , and European shares were quick to follow suit as they added 0.3 per cent in early trading to Thursday's 1.7 per cent jump.