Dollar Falls as Fed Signals Easing; Oil, Gold Rebound

The dollar retreated from a four-month high against the euro, while gold rose after Federal Reserve policy makers said more monetary easing may be needed. Oil climbed from a six-month low and Asian stocks gained after better-than-estimated economic data in Japan and Singapore.

The dollar fell 0.2 percent to $1.2744 per euro as of 12:26 p.m. in Tokyo, weakening against 15 of 16 major counterparts. The Australian dollar strengthened 0.2 percent. Crude oil in New York rose 0.4 percent to $93.16 a barrel, gold climbed 0.4 percent and copper gained 0.7 percent. The MSCI Asia Pacific Index added 0.2 percent and Standard & Poor’s 500 Index futures rose 0.4 percent.