Dollar Falls as Yellen Says Interest-Rate Outlook Not Locked In

---

The dollar fell from the day™s high after Federal Reserve Chair Janet Yellen said a change in the central bank™s guidance won™t lock it into a timetable for raising interest rates.

The U.S. currency rose earlier as Yellen told a Senate committee said the labor market is improving even as inflation and wage growth remain too low. The dollar has rallied this year as the U.S. economy outperformed it major peers, leading the Fed to consider reducing monetary stimulus while central banks around the world lower interest rates and buy bonds in an effort to bolster growth.

The Bloomberg Dollar Spot Index, a gauge of the currency versus its 10 major counterparts, declined 0.3 percent to 1,165.30 as of 3:22 p.m. in New York. It added as much as 0.5 percent earlier. The index touched 1,175.99 on Feb. 11, the highest level in data going back to 2004.

The U.S. currency traded little changed at 118.91 yen and $1.1336 per euro.

Source: Bloomberg

Gold Posts Longest Slump This Year on U.S. Interest-Rate Outlook

---

Gold futures fell, capping the longest slump this year, after Federal Reserve Chair Janet Yellen failed to allay concerns that U.S. interest rates will rise, eroding the appeal of the precious metal as an alternative asset.

Yellen signaled that a change in the Fed™s guidance on interest rates won™t lock it into a timetable for tightening, according to testimony prepared for delivery before the Senate Banking Committee. Gold extended a slump to a seven-week low.

Gold futures for April delivery fell 0.3 percent to settle at $1,197.30 an ounce at 2:03 p.m. on the Comex in New York. The price dropped for the third straight session, the longest slump since Dec. 24. Earlier, the metal touched $1,190, the lowest for a most-active contract since Jan. 5.

Yellen testified in the Senate on Tuesday and is set to appear before the House of Representatives Wednesday. Richmond Fed President Jeffrey Lacker was cited by Market News International as saying the central bank may raise rates in June or April. Higher rates curb gold™s appeal because the metal generally gives returns only through price gains.

Source: Bloomberg

U.S. Stocks Advance on Rate Speculation After Yellen Statement

---

U.S. stocks rose, sending benchmark gauges to records, after Federal Reserve Chair Janet Yellen indicated an increase in interest rates is unlikely before mid-year as inflation and wage growth remain too low.

The Standard & Poor™s 500 Index rose 0.3 percent to a record 2,115.52 at 4 p.m. in New York. The Dow Jones Industrial Average gained 92.67 points, or 0.5 percent, to 18,209.51, as Home Depot Inc. and JPMorgan Chase & Co. rallied. The Nasdaq Composite Index added 0.1 percent, climbing for a 10th straight day to bring it 1.6 percent away from its 2000 record.

The S&P 500 has gained 2.8 percent this year and the Dow has added 2.2 percent. The Nasdaq Composite rallied 5.1 percent in the past 10 days, the longest winning streak since July 2009. Apple Inc., which has the biggest weighting in the Nasdaq Composite, has surged 20 percent this year.

The Chicago Board Options Exchange Volatility Index lost 6.1 percent on Tuesday to 13.67, the lowest since December. The gauge, know as the VIX, is on track for its worst month ever.

Yellen said in testimony before the Senate Banking Committee inflation that wage growth remain too low even as the job market improves, and she signaled that a change in the Fed™s guidance on interest rates won™t lock it into a timetable for tightening.

Source: Bloomberg

Saham AS Pangkas Gain Pasca Komentar Yellen Terkait Suku Bunga

---

Saham AS memangkas gain pasca mencapai level tertinggi sepanjang masa, karena para investor mengkaji waktu kenaikan suku bunga acuan pasca testimoni dari Ketua Federal Reserve Janet Yellen.

Indeks Standard & Poor 500 naik kurang dari 0,1% menjadi 2,110.57 pada 12:42 siang di New York, setelah naik sebanyak 0,3% sebelumnya. Indeks Dow Jones Industrial Average naik 54,36 poin, atau 0,3%, menjadi 18,171.20 seiring reli Home Depot Inc dan JPMorgan Chase & Co. Indeks Nasdaq Composite turun 0,2% setelah naik sembilan hari sebesar 1,7% dari rekor di tahun 2000 lalu.(yds)

Sumber: Bloomberg

Europe Stocks Extend 2007 High as Greek Shares Jump on Aid Deal

---

European stocks extended a seven-year high as Greece reached a bailout deal and the Federal Reserve pledged patience on raising interest rates. Greek shares surged.

The Stoxx Europe 600 Index rose 0.6 percent to 387.25 at the close of trading, pushing its gains this year to 13 percent. The U.K.™s benchmark FTSE 100 Index closed at an all-time high, climbing 0.5 percent to surpass the previous record in 1999.

Greece™s ASE Index soared 9.8 percent, following a market holiday on Monday, as euro-area leaders approved a bailout extension for four more months. The gauge rose to the highest level since former Prime Minister Antonis Samaras announced elections in December, triggering concern over debt negotiations. National Bank of Greece and Alpha Bank AE rallied 17 percent.

European stocks extended gains as Fed Chair Janet Yellen said the central bank will be flexible about the timing of an interest-rate rise even after it changes its forward guidance. She reiterated in a testimony before the Senate Banking Committee that an increase is unlikely for œat least the next couple of meetings.

Source: Bloomberg