Asian stocks edged slightly higher on Monday, while the European Central Bank’s apparent equanimity at the euro’s nearly two-year highs left the dollar languishing.

The dollar headed for weekly losses on Friday, wallowing at its lowest levels against the euro in nearly two years after what markets perceived as hawkish talk from European Central Bank chief Mario Draghi.

Asian shares rose to their highest levels in nearly a decade on Thursday, bolstered by a surge in global markets, while the yen eased after the Bank of Japan reinforced expectations that it will keep massive stimulus in place far longer than other major central banks.

The dollar stayed on the defensive on Wednesday as investors wagered any further tightening in the United States would be slow at best, while optimism on China’s economy underpinned Asian shares and commodities.

Asian shares stepped back from more than two-year highs on Tuesday and the dollar extended losses as passage of a U.S. healthcare bill grew doubtful, and as investors bet the Federal Reserve will be more cautious about raising interest rates.

China’s economy grew faster than expected in the second quarter as industrial output and consumption picked up and investment remained strong, though analysts expect slower growth over the rest of the year as policymakers seek to reduce financial risk.

Global stocks scaled record highs on Friday, with Asian equities rising for the fifth straight session, as signs the Federal Reserve will pursue a gradual rate tightening path and hopes of a strong earnings season lifted appetite for risk assets.

Asian shares scaled a two-year top on Thursday as investors wagered policy tightening in the United States would be glacial at best, lifting Wall Street to record peaks and lowering bond yields almost everywhere.

Asian shares gained on Wednesday after Wall Street managed to weather a fresh twist in the controversy over U.S.

Asian shares extended early gains on Tuesday and the dollar notched a four-month high against the yen, as investors awaited testimony from Federal Reserve Chair Janet Yellen for clues on when the central bank would tighten U.S. monetary policy.