The euro fell the most versus the dollar in seven weeks as the European Central Bank signaled it will ease in June, halting a rally that had pushed the 18-nation currency to the strongest level since 2011.
Emerging-market currencies from South Africa’s rand to South Korea’s won rose against the dollar as Federal Reserve Chair Janet Yellen declined to provide a timeframe for raising interest rates. ECB President Mario Draghi said that policy makers would be “comfortable” with further stimulus next month. A Commerce Department report May 16 is forecast show housing starts increased 3.6 percent last month, a sign of how the U.S. economy is faring after harsh winter weather.
