QROPS Advice: Investment News: America economic recovery taking hold

The dollar declined as stocks rose amid signs that the economic recovery is taking hold, fanning demand for higher-yielding currencies such as the South Korean won and the South African rand. The Dollar Index, which tracks the U.S. currency against those of six major trading partners, dropped for a third day before a report due to be published that is thought to show U.S. service industries expanded at the fastest pace in more than a year. The pound rose versus the euro and the dollar after data showed U.K. consumer confidence jumped. The euro extended two days of gains against the dollar on Wednesday as European Commission President Jose Barroso said the body will back Greece's plans to cut its budget deficit.