The dollar rose against the euro for a third week, the longest rally since July, as policy divergence with Europe outweighed conflicting commentary by U.S. officials and jobs data that failed to meet traders’ expectations.
Treasuries fell, pushing 10-year yields to a three-week high, as gains in U.S. factory orders and company hiring fueled bets the economy is improving enough for the Federal Reserve to raise interest rates next year.
Federal Reserve Bank of St. Louis President James Bullard said policy makers haven’t committed to a specific month to end bond purchases even as it would take a significant shift in the outlook to alter the path of tapering.
U.S. stocks fell, led by technology and commodity companies, after President Barack Obama warned the crisis in the Ukraine may escalate and Facebook Inc. dropped the most since 2012. Losses extended in the last hour as investors sold companies that have led the bull market.