Dollar Declines for Sixth Day on Bets Fed Will Keep Yields Low
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The dollar dropped for a sixth day against the euro, matching the longest losing streak since May 2009, on speculation the Federal Reserve will consider measures to keep yields low to support the U.S. economy.
The Fed’s trade-weighted Dollar Index was near a record low as the central bank began a two-day meeting that will be followed by Chairman Ben S. Bernanke’s first press conference after a policy decision. Currencies linked to commodity prices including New Zealand’s dollar, South Africa’s rand and a record-breaking Aussie were among the best performers.