The dollar's race to two-decade highs is leaving a trail of destruction in its wake, exacerbating inflation in other countries and tightening financial conditions just as the world economy confronts the prospect of a slowdown in growth.

U.S. Federal Reserve policymakers look set to deliver a series of aggressive interest rate hikes at least until the summer to deal with hot inflation and surging labor costs, even as two reports Friday showed tentative signs both may be cresting.

(Reuters) -European shares on Friday rose to their highest in a week as strong earnings reports and a rally in miners boosted risk appetite at the end of a volatile month dominated by concerns about slowing global growth.

(Reuters) -Swiss logistics group Kuehne + Nagel reported on Tuesday a 162% surge in its first-quarter net earnings, citing strong demand for capital and consumer goods.

The U.S. dollar index fell from 20-year highs while Wall Street equities were lower on Friday with the latest economic data Amazon.com's disappointing quarterly report and outlook keeping the spotlight on surging inflation.

(Reuters) -Honeywell International Inc raised its full-year profit forecast on Friday, as a recovery in aviation markets due to a pickup in travel boosted demand for the company's parts, software and aftermarket services, sending its shares up as much as 6%.