Economics

The US dollar is closing in on a five-year high versus the yen, with gold heading towards a one-year low, ahead of the release of minutes from the Federal Reserve's historic December meeting.

Janet Yellen has been voted in by the US Senate to become the first woman to lead the Federal Reserve.

Japan's Nikkei index slid for the second day in a row on Tuesday, after weak economic data in the US made investors wary of taking on risk.

ON UK EQUITIES

Vodafone, BP and some less predictable names including a number of UK housebuilders have been tipped to lead the income tables in 2014.

The Bank of England (BoE) could lower the unemployment target it has said must be reached before it raises interest rates, according to some experts, as jobless figures fall faster than expected.

Chancellor George Osborne has warned Britain still faces "painful cuts" in its efforts to achieve a stable economy.

Asia's major equity markets have fallen after data from China's services sector disappointed.

Investors are too fixated on tapering in the US and are leaving themselves overexposed to risks across equity markets, according to Investec's Alastair Mundy.

Nouriel Roubini, famed for his gloomy predictions on the global economy, has become the latest bear to turn more optimistic over prospects for 2014.