US dollar falls on speculation it advanced too fast in Sept
[LONDON] The US dollar fell the most in two weeks on speculation that the currency strengthened too rapidly in September and before jobs data due on Thursday that may highlight the uneven nature of the US recovery.
The yen climbed for a second day as Japan's Vice-Finance Minister Nobuhide Minorikawa said that weakness in the currency is hurting some companies by driving up imported energy prices. The New Zealand and Australian dollars jumped as policymakers eased property restrictions in China, the South Pacific nations' biggest trading partner. The euro rose from near a two-year low as European Central Bank (ECB) president Mario Draghi prepared to clarify the scope of his asset-purchase plan.
"It's difficult to see how much of this is a dollar move, and how much is the market beginning to question what the ECB can do," said Jane Foley, senior foreign exchange strategist at Rabobank International in London. "It may be time to take a little bit of profit. There is a lot of talk Draghi could disappoint today."
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