Stock markets rally and pound hits five-year high after Federal …

The Frankfurt stock exchange today. Photograph: STRINGER/GERMANY/REUTERSLast night’s dovish tone from the US central bank has lifted European stock markets, pushed the pound higher, and sent the VIX volatility index down to its lowest level in around eight years.The Fed sparked the rally last night, by giving no clear indication of when interest rates might rise, and by refusing to […]