Dollar Halts Rally With U.S. Stocks Little Changed; Bonds Climb
- S&P 500 adds 0.1% amid slowest trading day of the year
- Oil retreats on skepticism global glut will be eased
Is Dollar Strength Sustainable Going Forward?
The dollar weakened for the first time in seven days, while Treasuries rose after a report showed the Federal Reserve’s preferred prices measure slowed in February, damping inflation expectations. U.S. stocks meandered amid the slowest trading day of the year.
The Bloomberg Dollar Spot Index snapped its longest rally since January as the data showed U.S. personal spending barely increased in February and the prior month’s advance was revised down. Ten-year Treasury yields slipped to their lowest level in three weeks as gold rose, while the yen slipped. the Standard & Poor’s 500 Index edged up 0.1 percent in volumes that were more than 36 percent below their 30-day average, while the Nasdaq Composite Index fell that amount. U.S. crude oil fell toward $39 a barrel in New York.