The dollar weakened for a third day against the euro, while stocks and currencies in emerging markets climbed as confidence in the economic recovery prompted investors to purchase riskier assets. Copper and cotton soared.
The dollar depreciated 0.6 percent versus the euro at 4:02 p.m. in New York, paring its biggest annual gain since 2005. The MSCI Emerging Markets Index rose 0.6 percent. Copper futures jumped 1.9 percent, bringing their gain this year to 33 percent and cotton advanced 1.4 percent. The U.K.’s FTSE 100 Index sank 1.2 percent, with most markets in western Europe closed. The Standard & Poor’s 500 Index was almost unchanged as trading on U.S. stock exchanges was the slowest for a full day this year.