The dollar fell the most in a week against a basket of major peers on speculation the Federal Reserve will move slowly to raise interest rates as the word’s biggest economy expands.
The pound rose to the highest level in more than four years against the dollar as Federal Reserve Chair Janet Yellen signaled the U.S. central bank will keep an accommodative monetary policy that has weakened the greenback.
Japanese shares closed little changed after the Topix index swung between gains and losses following the steepest rally in two months yesterday. Textile makers rose while the yen dragged on exporters.
South Korea’s won strengthened to the highest level in a week on increased demand for emerging- market assets after the Federal Reserve emphasized it will back an economic recovery in the U.S.
The dollar held gains against the yen while Australian and Japanese stock-index futures signaled Asian stocks may climb for a second day. Futures on the Standard & Poor’s 500 Index declined.
For Federal Reserve Chair Janet Yellen, monetary policy now is all about a simple rule familiar to any subway rider: Mind the gap.
The euro area’s core inflation rate fell more than initially estimated in March, keeping pressure on the European Central Bank to take action to boost prices.
Spanish Prime Minister Mariano Rajoy is counting on Mario Draghi’s help in a battle on two fronts against the strength of the euro.
For currency traders, talk is cheap, even when the person speaking is the president of the European Central Bank.
Bank of Japan Governor Haruhiko Kuroda said he told Prime Minister Shinzo Abe that the central bank won’t hesitate to adjust monetary policy if needed, after the pair met for lunch in Tokyo today.
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