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Dollar Slides Amid Bets Fed Will Maintain Stimulus; Franc Rises
The dollar fell the most in a month versus the euro as investors bet disruption from the U.S. debt-ceiling debate will hamper growth and prompt the Federal Reserve to postpone tapering its bond purchases. The U.S. currency weakened against all but one of its 16 major peers after BlackRock Inc. and Pacific Investment Management Co. said the Fed will maintain stimulus measures that tend to undermine the greenback. The yen and the Swiss franc strengthened after Congress voted yesterday to raise the U.S. debt limit, ending a government shutdown that began Oct. 1 that has taken $24 billion out of the economy. “People ... (full story)
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