Economics
Dollar Falls as Stocks, Commodities Rise; Yen Gains on Exports
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The dollar dropped against all of its major counterparts as equities rallied on better than expected corporate earnings and commodities advanced, reducing demand for a refuge.
The yen approached a record high versus the dollar after Japan’s exports rose in September more than forecast. The 17-nation euro advanced versus the dollar as European politicians attempted to craft an effective response to the region’s sovereign debt crisis. South Africa’s rand and Australia’s dollar climbed after a preliminary survey showed Chinese manufacturing may be the highest in five months.