Dollar Gains as Investors Pare Bearish Bets; Aussie, Kiwi Fall
This article is for subscribers only.
The dollar rose as investors pared bets on a weaker greenback amid speculation the Federal Reserve will maintain monetary stimulus as it awaits a pick-up in economic growth.
The U.S. currency strengthened versus most of its major counterparts amid commentary from regional Fed presidents as investors are paying the biggest premium in four days for options to buy the dollar versus the euro. The Australian and New Zealand dollars weakened as Asian stocks declined, reducing demand for the region’s higher-yielding assets. The pound fell as a gauge of mortgage approvals rose less than forecast.