Dollar declines after Yellen speech; C$ underperforms rivals

New York

THE US dollar declined against other major currencies on Friday as US Federal Reserve chief Janet Yellen did not mention US monetary policy in her remarks at the annual central bank research conference.

Ms Yellen said on Friday that any changes to the post-crisis financial reforms should be "modest" as these reforms have made the financial system substantially safer and resilient. However, she made no reference to US monetary policy in her remarks.