Markets reversed sharply on Thursday, with the dollar ending higher and oil prices giving up big early gains, as global investors grapple with the prospect that the Federal Reserve could raise interest rates sooner than expected. A drop in U.S. jobless claims to a four-decade low followed by European Central Bank officials opening the door to further interest-rate cuts caused investors to rethink the global interest-rate backdrop. This comes as some analysts have suggested the long dollar rally could be over if the Fed stands pat for a while. While investors still think there is virtually no chance the Fed will ... READ MORE
