LONDON, March 25 - Stock markets took a breather on Monday from their record highs of recent sessions as investors looked to an abbreviated trading week, capped by key U.S. inflation data on Friday, due to the impending Easter holiday.Market participants are hoping that Friday's U.S. prices data will back investor bets for a June interest rate cut by the Federal Reserve.
The yen was within striking distance of a 32-year low as Japan's top currency diplomat said on Monday the unit's weakness did not reflect fundamentals. Jason Da Silva, director of global investment strategy at Arbuthnot Latham, said the Fed's comments gave markets some comfort, and Monday's signs of consolidation in stocks should not be surprising after the momentum seen so far this year.
Powell will participate in a moderated discussion at a policy conference on Friday, while Fed governors Lisa Cook and Christopher Waller are also appearing this week.
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