Industrial metals led a gauge of commodities to a four-month low, while the dollar weakened and Treasuries rose, as investors assessed economic data for clues to future policy moves from central banks. U.S. shares rose a second day and European stocks closed at a five-year high.
Canada’s dollar touched a four-day high after a report showed gross domestic product increased at the fastest pace in two years in July, adding to evidence the nation’s economy is rebounding from a second-quarter slowdown.
The yen tumbled, reaching the weakest level in almost four years against the euro, as the Federal Reserve unexpectedly retained a monetary policy that prompts investors to borrow in low-interest-rate currencies to buy higher-yielding assets.
Canada’s dollar rose for a fourth day, the longest stretch of gains since July, as traders re- evaluated bets the nation’s economy would trail the U.S.’s in light of recent data that’s shown stronger-than-forecast growth.