Dollar Falls After Data on Fed Easing Speculation

The dollar fell for a second day against the yen after reports signaled a slowing U.S. economy, boosting the case for the Federal Reserve to take more steps to bolster growth.

The euro rose versus the dollar on bets its decline since April was overdone and after Reuters reported European central banks are preparing for coordinated action, if needed, after the Greek elections this weekend. The U.S. currency declined versus all of its 16 major peers after initial jobless claims rose last week and inflation declined in May. New Zealand’s dollar gained as the central bank gave no indication it would cut interest rates.