Dollar Declines Against Most Major Peers as Stocks Gain
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The dollar declined against most of its major counterparts as Asian stocks extended gains, reducing demand for haven assets.
The greenback weakened against the Australian dollar after China’s central bank pumped a record amount of money into the financial system this week, spurring speculation the nation will act to support growth. Demand for the euro was limited before Spanish Prime Minister Mariano Rajoy submits a fifth package of budget cuts as demonstrators gathered in Madrid yesterday.