Dollar Drops as ECB Looks to Exit Stimulus, Fed Sets Bond Buys

The dollar fell against all of its major peers as the European Central Bank signaled it will likely stick with its stimulus-exit strategy even as the Federal Reserve buys $600 billion of bonds to boost the U.S. economy.

The greenback reached a nine-month low versus the euro as the ECB said it will decide on further exit steps next month. The pound rose as the Bank of England refrained from adding to its asset purchases. The New Zealand dollar climbed against all of its counterparts as commodities surged.