Dollar Set for Sixth Monthly Drop Before Jobless Claims
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The dollar headed for a sixth monthly loss versus the euro before a U.S. report that economists said will show jobless claims increased, validating the Federal Reserve’s decision to maintain asset purchases.
The U.S. currency dropped toward a 13-month low against the euro and weakened against the yen after the Fed said yesterday it will keep buying Treasuries and mortgage bonds. The yen strengthened against all of its 16 major counterparts as investors sought out safer assets. New Zealand’s dollar gained after the central bank said it was concerned about rising house prices, fueling bets on higher interest rates.