Dollar Falls Most Since May on Bets Fed Will Keep Pledge

The dollar fell the most against its major peers in four months on speculation the Federal Reserve will maintain a pledge to keep interest rates low for a “considerable time” in its policy statement tomorrow.

The greenback has gained more than 3 percent the past four weeks as investors anticipated a strengthening economy would prompt policy makers to drop the guidance on keeping interest rates low. The gains were pared today after Wall Street Journal reporters speculated during a webcast that the language would be retained. Canada’s dollar rallied after the nation’s factory sales increased to a record. Brazil’s real climbed.