The
dollar fell for the first time in five days, ending its longest rally in two
months, after a report showed services unexpectedly declined in December.
The
euro climbed from a one-month low against the dollar as industry data confirmed
the region’s services output expanded for a fifth month before the European
Central Bank discusses interest rates on Jan. 9. South Korea’s won tumbled on
bets the central bank will cut borrowing costs. South Africa’s rand gained
after Moody’s Investors Service said the country will retain its
investment-grade credit rating.
The
Bloomberg Dollar Spot Index, which tracks the currency against 10 major peers,
dropped 0.2 percent to 1,023.87 at 5 p.m. in New York after climbing to
1,029.67 on Jan. 2, the highest since Sept. 9. It completed a six-day rally on
Nov. 1.
The
dollar fell 0.3 percent to 1.3629 per euro after rising to $1.3572, the highest
level since Dec. 5. The greenback slid 0.6 percent to 104.22 yen, while the
Japanese currency advanced 0.3 percent to 142.04 per euro.
(Source: Bloomberg)