Economics
Dollar Slump Upends Stocks, Boosts Metals as Treasuries Weaken
- Commodities cap best month since 2010 as oil hits $46
- S&P 500 ends month higher amid two weeks of declines
Unloved Bull Market Celebrates Historic Milestone
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The dollar fell to the lowest level in almost a year on speculation the Federal Reserve won’t rush to raise interest rates. U.S. stocks fell and commodities extended gains in their best month since 2010.
The Bloomberg Dollar Spot Index fell for third month, the longest since it started a two-year rally of 20 percent, while the yen had its biggest weekly jump since 2008. Declines in the greenback are proving a boon for raw materials, helping lift gold and silver to 15-month highs. Crude oil jumped 20 percent this month to $46 a barrel in New York. U.S. stocks staged an afternoon comeback to pare a decline and end April slightly higher.