Dollar Gains Amid Fed Taper Timing Speculation; Yen Declines
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The dollar gained versus the euro and yen before the Federal Reserve starts a two-day policy meeting tomorrow as investors weigh whether the central bank will curb bond purchases.
The Dollar Index snapped a five-day drop before a report tomorrow economists said will show the cost of living in the U.S. rose in May after two months of declines. The yen fell at least 0.3 percent versus all 16 of its major peers as stocks gained, damping demand for haven assets. The euro climbed against the yen before data on the common-currency bloc’s trade balance as inflows to the region support this year’s best-performing developed-market currency.