Dollar, Stocks Gain as Treasuries Fluctuate Before Fed

The dollar gained, while most U.S. stocks rose and Treasuries pared an advance, as investors awaited tomorrow’s Federal Reserve statement for clues to the central bank’s bond-buying plans. Australia’s dollar fell as the central bank indicated it may lower interest rates.

The Bloomberg Dollar Index, a gauge of the currency against 10 major peers, jumped 0.3 percent to 1,026.82 at 4 p.m. in New York. The S&P 500 added less than 0.1 percent to 1,685.96 and is up 5 percent in July, its biggest monthly gain since January. Ten-year Treasury yields were little changed at 2.60 percent after losing three basis points earlier. The Aussie weakened at least 0.4 percent against its 16 major peers, tumbling 1.6 percent versus its U.S. counterpart. The S&P GSCI gauge of 24 raw materials slipped 0.7 percent for a fifth straight drop as metals led losses.