In The Currency Market

In the currency market, the dollar has been losing its luster as the euro zone and a few other countries have been slowly winding back stimulus. 

The European Central Bank, which is buying 60 billion euro ($71 billion) bonds per month to shore up euro zone economies, is expected to unveil a plan to wind down the asset purchase program in coming months. 

The euro traded at $1.1845, after having risen to as high as $1.19105 on Wednesday, its highest level since January 2015. 

The common currency has strengthened sharply against the safe-haven Swiss franc, having gained more than four percent in less than two weeks to 1.1488 francs. 

The British pound held near its highest in almost 11 months against a broadly weaker dollar ahead of the Bank of England's "Super Thursday", which could shed light on how soon interest rates could be lifted. 

Sterling has been supported in recent weeks by expectations the bank might finally be getting ready for a hike after a series of hawkish comments from policymakers, though Governor Mark Carney could be more cautious. 

The pound last traded at $1.3221 , near Wednesday's 11-month high of $1.3250. 

The yen stepped back from Tuesday's 1 1/2-month high of 109.92 yen per dollar to trade at 110.69 yen . 

Oil prices dipped as a rally that pushed up prices by almost 10 percent since early last week lost its momentum, despite renewed signs of a gradually tightening U.S. market.

While strong demand in the United States supported prices, ongoing strong supplies from OPEC producers restricted further gains. 

Brent crude futures slipped 0.4 percent to $52.17 per barrel, still not far from Wednesday's high of $52.93, its highest level in 10 weeks.