"The dollar weakened against its major peers, falling the most versus currencies from New Zealand to South Africa as emerging-market stocks rose toward a four-month high. European shares fell amid concern tension over Ukraine will escalate, while gold led metals higher.
The kiwi climbed 0.8 percent to 86.68 per dollar at 7:03 a.m. in New York, and South Africa’s rand jumped 0.7 percent to its strongest level since Jan. 1. The MSCI Emerging Markets Index increased 0.6 percent. The Stoxx Europe 600 Index slid 0.9 percent, extending earlier losses. Standard & Poor’s 500 Index futures slipped 0.3 percent, signaling the gauge’s will extend its biggest three-day slide since January. Gold advanced 1.1 percent.
Price swings in currency markets have tumbled to a six-year low as central banks from the U.S. to Japan seek to boost growth with cheap cash and record-low interest rates, encouraging investors to seek higher-yielding assets. Ukraine sent additional police forces into eastern regions after pro-Russian protesters seized government buildings in Donetsk, Luhansk and Kharkiv. Alcoa Inc., the biggest U.S. producer of aluminum, reports first-quarter earnings today".
Source: Bloomberg
