Dollar Drops From 3-Week High Versus Euro Amid Fed Speculation
This article is for subscribers only.
The dollar fell from a three-week high versus the euro after data showed the U.S. unemployment rate was higher than forecast in December, fueling bets the Federal Reserve won’t hurry to end its stimulus efforts.
The euro rose earlier after minutes of the Fed’s last meeting showed yesterday the central bank might end its third round of monthly bond purchases under quantitative easing this year. The greenback climbed to the highest level against the yen since July 2010 as the Japanese currency had its longest weekly losing streak in almost 24 years. Brazil’s real and Mexico’s peso gained versus their major peers as risk appetite rose.