Srinagar, June 27 -- Asian shares surged to their highest levels in more than three years on Friday, tracking a rally on Wall Street, while the US dollar remained under pressure due to concerns over the Federal Reserve's independence and growing expectations of early interest rate cuts.

Global stock markets appeared poised to end the week on a positive note, with tensions in the Middle East and trade-related uncertainties taking a temporary backseat. MSCI's broadest index of Asia-Pacific shares outside Japan hit levels not seen since November 2021, while the global gauge of equities marked a record high for the fourth consecutive session.

In European markets, futures pointed to a higher opening, with EUROSTOXX 50 and DAX futures up more...