Economics
Dollar Drops in Biggest Loss Since September; Franc, Aussie Gain
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The dollar fell the most in seven months versus the currencies of major U.S. trading partners as economic growth slowed and Federal Reserve Chairman Ben S. Bernanke said he was unsure when monetary stimulus will end.
The franc rallied in April against most of its major counterparts and rose to a record versus the greenback as Swiss National Bank President Philipp Hildebrand said expansionist monetary policy risks stoking inflation. The Australian dollar and Norwegian krone surged as commodities gained. The dollar fell to a 16-month low versus the euro before next week’s payrolls report, forecast to show job growth slowed.