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Dollar Sinks Amid Fed Speculation as Earnings Fuel Stocks Rally

The dollar slid the most against the euro since July and reached a 15-year low versus the yen amid speculation the Federal Reserve will pump more cash into the economy. Boeing Co. and Yahoo! Inc. helped lead stocks higher after earnings beat estimates, while energy shares and oil rose.

The dollar snapped a three-day rally against the euro, losing 1.6 percent to $1.3950 versus the common currency, and sank to as low as 80.85 yen. The Standard & Poor’s 500 Index increased 1.1 percent to 1,178.17 at 4 p.m. in New York after slumping 1.6 percent yesterday for its biggest drop in two months. Oil rebounded from its largest drop since February, returning above $81 a barrel. The yield on the 30-year Treasury bond slipped three basis points to 3.89 percent.