Dollar Drops as Investors Seek Riskier Assets on Growth Outlook
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The Dollar Index fell for the first time in three weeks as stronger-than-forecast U.S. economic data spurred bets growth in the world’s biggest economy is building momentum, prompting investors to seek higher-yielding assets.
The U.S. currency rose versus all of its 16 most-traded counterparts as European Central Bank President Mario Draghi said the ECB is ready to start buying euro-bloc nations’ debt to stem the region’s debt crisis. The Federal Reserve will issue its Beige Book regional business survey next week in preparation for its policy meeting this month.