Currencies

Dollar, Yen Decline as U.S. Housing Gain Spurs Demand for Riskier Assets The dollar and yen dropped against all of the other major currencies as sales of existing U.S. homes rose to the highest level since February 2007, increasing demand for higher-yielding assets.

Dollar Slump Persisting as Most Accurate Forecasters See No Bottom in 2010 The most accurate dollar forecasters predict the world’s reserve currency will continue sliding even when the Federal Reserve begins to raise interest rates, which policy makers say is an “extended period” away.

Chilean Peso Climbs as Copper Advances; Colombia's Currency Strengthens Chile’s peso climbed as the price of copper, of which the nation is the world’s top producer, touched a 14-month high.

Canadian Currency Strengthens Most in Two Weeks as Gold, Crude Oil Climb Canada’s currency appreciated the most in two weeks against its U.S. counterpart as gold and crude oil climbed, burnishing the appeal of currencies tied to commodity prices.

Euro May Breach Resistance, Advance to a Record High: Technical Analysis The euro may rise to a record against the dollar should it strengthen beyond a resistance level in a range of $1.5050 to $1.5095, according to Societe Generale SA, citing trading patterns.

Brazil Real Rises for the First Time in 4 Days as Stocks Gain Worldwide Brazil’s real gained for the first time in four days as European and Asian stocks rose on an improved global economic outlook.

Dollar Weakness Trend to Stay in Place into Year End, Standard Bank Says The dollar will continue to weaken into the end of the year as central banks signal interest rates are likely to stay low into the second half of 2010, according to Standard Bank Plc.

British Pound Advances Against Dollar as Stocks Gain on Signs of Recovery The pound gained for the first time in five days against the dollar as commodity companies led shares higher amid growing confidence the global economic recovery is gathering pace.

U.K. Companies Will Rely Less on Banks After Crisis, Business Lobby Says U.K. companies plan to rely less on banks for credit in favor of funding from bonds and equities, according to a survey for the Confederation of British Industry.

Hungary May Cut Key Interest Rate to 3-Year Low on Recession, Inflation Hungary’s central bank will probably cut the benchmark interest rate to the lowest in more than three years today to speed the country’s recovery from its worst recession in 18 years, which helped slow inflation.

Eastern Europe Proving Too Good to Last as Runaway Debt Erodes 50% Returns Eastern Europe, where currencies and equities combined to produce total dollar-denominated returns of about 50 percent this year, is showing signs of unraveling as the continent’s favorite investment because of runaway debts.