The euro rose the most in two weeks versus the dollar as manufacturing and services in the currency bloc expanded more than economists forecast, damping bets the European Central Bank will further ease monetary policy.
Australia’s dollar slumped the most in more than a month against the greenback after a government report showed inflation was less than analysts forecast. New Zealand’s currency fell before the central bank is forecast to raise interest rates. The Bloomberg Dollar Spot Index fluctuated as the U.S. is scheduled to report on new-home sales and manufacturing. A measure of market volatility slid toward a seven-year low.
The euro advanced 0.2 percent to $1.3836 at 8:54 a.m. New York time, after touching $1.3855, the highest since April 17. The shared currency fell 0.1 percent to 141.58 yen, snapping a six-day gain. Japan’s currency rose 0.3 percent to 102.33.
JPMorgan Chase & Co’s Group of 7 Volatility Index dropped to 6.56 percent, a second daily decline, approaching the record low of 5.73 percent reached in June 2007. It is down from a record high 27 percent in October 2008, shortly after the collapse of Lehman Brothers Holdings Inc.
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