Dollar Gains Versus Major Peers as Economic Data Backs Tapering
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The dollar registered its biggest weekly advance in more than a month against the yen as gains in new-home construction and worker productivity added to signs the world’s biggest economy is improving.
The U.S. currency climbed versus 13 of its 16 major counterparts as growth data fueled speculation the Federal Reserve will start to reduce its unprecedented monetary stimulus. Dollar gains were limited as bond yields rose to the highest level in more than two years and stocks fell. India’s rupee slid to a record low amid concern the nation’s current-account deficit will keep widening.