Dollar Stalls Amid Speculation Rally Overdone; Aussie Climbs
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The dollar’s advance since the end of last month stalled amid speculation it has risen too fast. The Aussie gained after business conditions improved by the most on record.
The dollar traded 0.7 percent from a seven-year high versus the yen reached last week as a gauge of momentum signaled the currency was overbought. The won fell amid speculation Bank of Korea Governor Lee Ju Yeol will signal this week an outlook for further policy easing. Currency volatility declined from a more than one-year high.