Asian currencies are the best bets against the dollar as currency markets anticipate quantitative easing from the Federal Reserve, said David Mann , head of research, Americas at Standard Chartered Plc.
The dollar gained versus the euro as the Federal Reserve maintained asset-purchase programs without suggesting it’s closer to boosting stimulus, reducing concern additional measures will debase the currency.
The Dollar Index fell for a second week as Federal Reserve Chairman Ben S. Bernanke defended his unprecedented actions and made the case for further monetary stimulus to counter unemployment of more than 8 percent.
New York is unlikely to enjoy the energy boom that swept neighboring Pennsylvania because a collapse of natural gas prices has dulled the enthusiasm of companies waiting for regulators to permit drilling.
The yen weakened beyond 81 against the dollar and fell to its lowest level since November against the euro as three-year low foreign-exchange volatility and signs of global growth prompted demand for higher-yielding currencies.