Dollar Weakens as Global Stocks Cap Best Month in Four Years
- PBOC, BOJ actions send U.S. currency lower for October
- S&P 500 slips with Europe equities, paring monthly rallies
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The foreign-exchange market grabbed the spotlight on the final day of what’s been the best month for global equities in four years.
The yen rallied after the Bank of Japan refrained from expanding a record stimulus program, China’s yuan advanced on further steps to increase convertibility and the dollar erased its monthly gain against major peers. The Standard & Poor’s 500 Index slipped as it pared its October rally to 8.3 percent, while the the Stoxx Europe 600 Index trimmed is best monthly advance since July 2009.