The US dollar fell, heading for its biggest weekly loss against the euro in a month, as European and Asian stocks rose and traders added to bets the Federal Reserve will keep interest rates low.
The dollar slid against 13 of the 16 major currencies as Dallas Fed President Richard Fisher may today elaborate on the central bank's statement this week that the benchmark rate will stay at "exceptionally low levels." Australia's dollar climbed for a fourth day against the greenback and the yen as commodity prices rose, encouraging demand for the nation’s assets. New Zealand's dollar fell after the government said the economy shrank at a faster pace than predicted by economists.
The dollar declined to $1.4034 per euro as of 9:38 a.m. in London, from $1.3988 yesterday in New York, extending its loss this week to 0.7 percent. The yen weakened to 134.57 per euro, from 134.22. The U.S. currency traded little changed at 95.90 yen, from 95.95 yen.
Australia's dollar rose 0.3 percent to 80.46 U.S. cents and climbed 0.2 percent to 77.17 yen. The Norwegian krone, the world's fifth-largest oil exporter, rose 0.4 percent to 6.4466 per dollar. The New Zealand currency slipped 0.3 percent to 64.35 U.S. cents.
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