Dollar Weakens Against Yen on Fed Stimulus Bets; Kiwi Advances
This article is for subscribers only.
The dollar fell for a second day versus the yen on speculation that the Federal Reserve Chairman Ben S. Bernanke won’t rush to increase interest rates after the U.S. central bank winds down its bond-buying stimulus program.
The Bloomberg Dollar Index approached the lowest level in a month after the Beijing News reported that China’s premier Li Keqiang said 7 percent growth is the minimum possible, damping demand for the safest assets. The Australian and New Zealand dollars advanced for a third day as rising commodity prices and a drop in volatility gave support to the higher-yielding assets. Indonesia’s rupiah fell the most since 2011.