Dollar Falls on Speculation Fed May Signal Easing; Euro Gains
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The dollar fell from a three-week high against the euro on speculation the Federal Reserve will signal today it’s moving toward a third round of asset purchases, or quantitative easing, to spur economic growth.
The U.S. currency declined for the first time in three days versus the yen amid speculation unemployment above 9 percent may spur the Fed to act. South Africa’s rand and Canada’s dollar rallied as stocks gained following two days of losses. The euro rose versus most major peers after Greece’s Cabinet backed Prime Minister George Papandreou’s call for a bailout-plan referendum.