Yellen Sends Greenback to Worst Month Since 2011 as Yen Advances

March 30, 2016 5:22 AM

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The dollar headed for its worst month in five years after Federal Reserve Chair Janet Yellen doused speculation the U.S. central bank would pick up the pace of interest-rate increases. The yen strengthened.

A gauge of the greenback approached the lowest since June after Yellen said the Fed would act “cautiously” as it looks to raise rates against a backdrop of deteriorating global economic growth. During the past two days, the index lost almost all of the gains made last week, when policy makers includ...

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