Dollar Sinks as Steady Oil, Stocks Erode Haven Bid

The dollar fell the most in about three weeks on Wednesday as oil prices rose and US stocks gained, reversing some of the haven demand that had buoyed the greenback amid the escalating conflict in the Middle East.

The Bloomberg Dollar Spot Index declined 0.3%, the biggest drop since Feb. 9. The gauge is still up about 1.1% this week. The greenback surged the past two days against most world currencies after the US and Israel launched airstrikes against Iran over the weekend, and as Iran countered with its own strikes.