Markets climb as world looks to Fed chief for QE timeline

US markets followed shares across Europe higher overnight, while the dollar also surged, ahead of the latest Federal Reserve meeting in the States which may map out a QE exit strategy.

The expectation is growing that Fed chairman Ben Bernanke and his colleagues may spell out exactly how and when the unprecedented stimulus which has kept markets afloat and sent bond prices soaring will be curtailed. Policymakers are meeting this week, with Bernanke also expected to reassure investors the $85bn a month bond buying scheme can be stepped up again at any time, in an attempt to ease market concerns that the US is about to embark on a total withdrawal from QE. The expectation of a clear QE road map helped boost markets overnight, with the S&P 500 and Dow Jones both finishi...