World Economy
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Drop in Greenback

Drop in GreenbackDrop in Greenback

The dollar dropped against all of its G-10 peers after weaker-than-expected US economic growth dimmed prospects for a Federal Reserve interest-rate hike. Asian stocks fell with European equity index futures and oil traded near $46 a barrel. The Bloomberg Dollar Spot Index sank to an 11-month low, while the yen was headed for its biggest weekly jump since 2008 after the Bank of Japan unexpectedly refrained from adding to record stimulus on Thursday. The greenback’s decline is proving a plus for commodities, which are poised for their best monthly gain since 2010.

Financialtribune.com