Dollar Drops Versus Major Peers as Jobs Decline Damps Taper Bets
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The dollar dropped against all but one peer after U.S. employers added the fewest jobs in two years in December, reducing speculation the Federal Reserve will wind down the bond-buying it uses to support economic growth.
The greenback fell from almost the highest level in four months against a basket of developed-nation counterparts before the central bank meets this month to decide the course of its quantitative-easing program, which may debase the currency by printing greenbacks. A basket of emerging-market currencies rallied and Treasury yields tumbled. Poland’s zloty rose the most in four months versus the euro.