The
dollar gained the most in three weeks after Federal Reserve policy makers
signaled emerging-market turmoil and economic reports that have fallen short of
forecasts won’t interrupt stimulus-tapering plans.
The
U.S. currency strengthened versus most of its 16 major peers, including those
of commodity producers Canada and Australia, as Treasury yields rose after
“several” central bank officials said “there should be a clear presumption in
favor of continuing” the pace of bond-buying reductions, barring a change in
the economic outlook. Emerging-market currencies weakened as anti-government
protests escalated in Ukraine and Thailand.
The
Bloomberg Dollar Spot Index, which tracks the currency against 10 major
counterparts, added 0.3 percent to 1,020.16 as of 5 p.m. in New York, the
largest increase on a closing basis since Jan. 30.
The
yen rose 0.1 percent to 102.31 per dollar after dropping 0.4 percent yesterday,
and Japan’s currency rose 0.2 percent to 140.51 per euro. The dollar gained 0.2
percent to $1.3733 per euro after sliding to $1.3739.
(Source: Bloomberg)