Dollar Falls for Fifth Day as Fed Asset Purchase Crimp Demand

The dollar fell for a fifth straight day against the euro as the Federal Reserve’s asset-purchase plan to bolster sluggish economic growth damped demand for refuge.

The 17-member currency reached a fourth-month high versus the greenback as Prime Minister Mariano Rajoy considered whether to request economic assistance for the indebted nation after the European Central Bank said it would buy bonds to temper borrowing costs. The yen weakened against most of its major counterparts before the Bank of Japan meets Sept. 19. Taiwan’s dollar and South Korea’s won rallied as international investors increased holdings of Asian stocks.