Dollar hits low, stocks fluctuate

The dollar touched its lowest level this month, while Treasury yields rose after Wednesday’s slide. U.S. stocks fluctuated amid thinned-out trading between holidays.

The S&P 500 Index edged higher with trading 45 percent below the 30-day average for this time of day. The greenback dropped against all major peers on its way to the worst year in more than a decade. Tenyear Treasury yields gained toward 2.44 percent after sliding the most intraday since the start of December on Wednesday.

The euro was on track for the strongest close in three months, while European stocks and core bonds fell. The Bloomberg Commodity Index extended its longest rising streak in more than 12 years as copper headed for its highest level since Sept. 2013. WTI crude held below $60 a barrel.

While the Federal Reserve’s three interest-rate hikes this year might have argued for higher U.S. yields and a stronger greenback, instead its low cap on its long-term estimated policy rate and muted inflation have proved to be stronger dynamics.

Meanwhile, bitcoin retreated again Thursday, extending a selloff that began last week, as South Korean regulators stepped up scrutiny of their citizens’ dealings with cryptocurrencies.

The Standard & Poor’s 500 index rose 4 points, or 0.2 percent, to 2,687.

The Dow Jones industrial average climbed 63 points, or 0.3 percent, to 24,837. The Nasdaq composite rose 10 points, or 0.2 percent, to 6,950.

Bond prices fell. The yield on the 10-year Treasury rose to 2.43 percent.