Dollar Erases Losses After Williams Says Fed May Taper Purchases
This article is for subscribers only.
The dollar erased losses versus the yen and euro after Federal Reserve Bank of San Francisco President John Williams said the central bank may begin tapering as early as this summer the pace of its bond purchases.
The greenback fell earlier from an almost four-year high versus the yen after weaker-than-forecast reports on U.S. unemployment claims, housing and inflation damped bets the Fed will slow its bond buying under the quantitative-easing stimulus strategy. South Africa’s rand slid to the weakest since 2009 on concern the nation’s economic growth will falter.