World Economy

Dollar Holds 5-Day Drop

Dollar Holds 5-Day DropDollar Holds 5-Day Drop

The dollar held a five-day decline against major peers after oil capped its biggest weekly advance in four months. Japanese stocks slid, while most markets in Asia were closed for holidays, Bloomberg reported. Japan’s Topix index fell, completing a fifth weekly drop, with exporters leading declines. Shares advanced in China and Taiwan. The Standard & Poor’s 500 Index rose 2.8% in the holiday-shortened week through Thursday, recouping all but 12 points of the two-day rout following the first interest-rate hike by the Federal Reserve in almost a decade on Dec. 16. West Texas Intermediate futures rose 9.7% this week, the biggest gain since August after US crude inventories declined and drillers idled rigs.