Fed minutes send markets higher

Dovish Federal Reserve minutes sent US and Asian markets higher overnight, allaying fears the Fed could raise rates earlier than expected.

Last month chair Janet Yellen rattled markets after appearing to indicate rates could be higher by the end of 2015. However, the latest minutes made no reference to an earlier suggestion rate rises could occur six months before the end of the Fed's tapering programme.  The S&P 500 index finished up 1.1% on the news, leaving it 1.3% off another record high, while the dollar fell against a basket of major currencies by 0.3%. In Asia, the Fed minutes tempered weak trade data from China and Japan. The Hang Seng index added 0.1%, although the Nikkei's losing-streak continued with the...