Dollar Strengthens Versus Euro as Spending Rises After Fed Taper

The dollar strengthened a fifth day versus the euro as U.S. consumer spending rose the most in three years a day after the Federal Reserve scaled back bond purchases that weaken the greenback and support global asset prices.

Hungary’s forint dropped as emerging-market peers the South African rand and the real of Brazil rebounded from a week-long rout. The 18-nation shared currency fell as German inflation unexpectedly stayed unchanged in January, signaling subdued price pressure in the euro-area’s largest economy.