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Dollar Falls, Bonds Rise on Bets Fed to Move Slowly; Kiwi Jumps

  • Oil slides on unexpected increase in U.S. crude inventories
  • Most Asian futures drop as energy stocks drive S&P 500 lower
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Gina Martin Adams: In Bubble of Central Bank Easing

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The dollar weakened, boosting metals prices amid gains in government bonds, as the idea that U.S. policy makers are in no rush to raise interest rates solidified. U.S. stocks dropped with crude oil.

The greenback fell against major peers as currencies of commodity-exporting nations rallied with industrial metals. New Zealand’s dollar climbed after the country’s central bank signaled a more gradual easing path than some investors had anticipated as it cut rates to a fresh record low. Treasuries helped extend the global bond rally as the U.S. sold 10-year notes at their lowest yield in four years. Oil’s slide spurred a selloff in energy shares that dragged the S&P 500 Index down 0.3 percent from near its all-time high.