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(Bloomberg) -- European shares struggled to follow Asian equities higher and U.S. futures were a little weaker at the end of a tumultuous week. The dollar pared some declines as it fell against most major peers and Treasury yields slipped.

The Stoxx Europe 600 Index drifted lower amid mixed national benchmarks as the region’s common currency climbed for the first time in three days. European Central Bank President Mario Draghi said he was optimistic for wage growth in the region, although he stressed the need for patience. The pound reversed earlier gains after comments from Brexit Secretary David Davis signaled a continued stand-off in negotiations with the European Union. Bonds in the region were mixed, but most turned higher with Treasuries. The dollar was under pressure as a probe into Russian influence on the 2016 U.S. election was said to have deepened.

As Washington took one step closer to tax reform and China’s central bank injected the most cash since January into its financial system this week, investors have been trying to decide if resilient global growth and strong earnings forecasts warrant sticking it out in equities. Lofty valuations contributed to fund managers paring back some exposure after global shares reached record highs earlier this month.

Special Counsel Robert Mueller was said to have served U.S. President Donald Trump’s election campaign a subpoena in mid-October, in the latest sign that his criminal investigation is aggressively pursuing links between campaign officials and Russia. Meanwhile, the chances that firms will get a tax break appeared to improve after Republican Senator Ron Johnson, who had declared his opposition to the Senate’s tax plan, said he is optimistic his concerns can be addressed. The House passed its version of the bill Thursday.

Elsewhere, bitcoin hit another record high just days after a plunge of as much as 29 percent, though it later reversed its gains. Commodities bounced after the recent selloff. West Texas crude jumped to around $56 a barrel as Saudi Arabia moved to dispel doubts over Russia’s readiness to extend output curbs.

In Asia earlier, Japanese shares ended fractionally higher as the yen jumped to the strongest in four-weeks. Equities in Hong Kong and Australia rose, while Chinese stocks traded in Shanghai fell. Indian stocks and the currency advanced after Moody’s Investors Service raised the nation’s credit rating.

Terminal users can read more in our Markets Live blog.

These are the main moves in markets:

Stocks

  • The Stoxx Europe 600 Index decreased 0.2 percent as of 1:51 p.m. London time.
  • The U.K.’s FTSE 100 Index dipped less than 0.05 percent.
  • Germany’s DAX Index gained less than 0.05 percent.
  • Japan’s Nikkei 225 Stock Average climbed 0.2 percent to the highest in a week.
  • The MSCI Asia Pacific Index jumped 0.4 percent.
  • The MSCI Emerging Market Index increased 0.8 percent to the highest in more than a week.
  • Futures on the S&P 500 Index fell 0.1 percent to 2,582.00.

Currencies

  • The Bloomberg Dollar Spot Index dipped less than 0.05 percent to the lowest in more than three weeks.
  • The euro gained 0.1 percent to $1.1784.
  • The British pound fell 0.1 percent to $1.3178.
  • The Japanese yen climbed 0.4 percent to 112.62 per dollar, the strongest in more than four weeks.

Bonds

  • The yield on 10-year Treasuries fell one basis point to 2.36 percent.
  • Germany’s 10-year yield dipped less than one basis point to 0.37 percent, the lowest in more than a week.
  • Britain’s 10-year yield gained one basis point to 1.318 percent.
  • Japan’s 10-year yield decreased two basis points to 0.036 percent, the lowest in more than a week.

Commodities

  • West Texas Intermediate crude advanced 1.7 percent to $56.06 a barrel.
  • Gold gained 0.4 percent to $1,283.24 an ounce, the highest in more than a week.
  • Copper dipped 0.3 percent to $3.06 a pound, the lowest in more than five weeks.

--With assistance from Min Jeong Lee Shingo Kawamoto Andreea Papuc and Adam Haigh

To contact the reporters on this story: Cormac Mullen in Dublin at cmullen9@bloomberg.net, Samuel Potter in London at spotter33@bloomberg.net.

To contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Samuel Potter

©2017 Bloomberg L.P.

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