Dollar Declines as Economic Outlook Buoys Higher-Yielding Assets
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The dollar fell against most of its major counterparts as signs of global economic recovery spurred demand for higher-yielding assets including stocks.
The greenback weakened versus the New Zealand and Australian dollars on reduced demand for safety before a U.S. report tomorrow forecast to show initial jobless claims fell. Sweden’s krona appreciated versus as the nation’s trade surplus widened in November. Taiwan’s dollar rose to a 13-year high on the prospect of an increase in borrowing costs.