Dollar Declines Before U.S. Employment Report; Pound Strengthens

The Dollar Index fell from a more than one-month high as traders speculated whether the U.S. jobs report for June will be strong enough to move the Federal Reserve closer to slowing monetary stimulus.

The yen climbed against the most major currencies amid renewed speculation Europe’s sovereign-debt crisis is worsening as Portugal’s bonds slumped after two ministers resigned from the government. The pound rallied after U.K. services expanded, while Australia’s dollar slid after central-bank Governor Glenn Stevens said the economy “will probably get” a weaker currency if needed.