The yen strengthened for the first time in three days against the dollar and European stocks declined before a Federal Reserve meeting that may clarify the outlook for U.S. monetary stimulus. Oil approached $100 a barrel for the first time since September.
Alcatel-Lucent SA will sell 1 billion euros ($1.3 billion) of assets and slash costs by another 1 billion euros in a bid by Chief Michel Combes to turn the company around -- something his predecessors tried, and failed, to do for seven years.
The dollar fell against the majority of its most-traded peers amid bets Federal Reserve Chairman Ben S. Bernanke will signal the central bank plans to maintain bond purchases that risk debasing the currency.
U.K. government bonds rose as the minutes of the Bank of England’s most recent policy meeting showed some officials said the inflation outlook was more favorable and that more monetary stimulus was justified.