EXCERPT:
"NEW YORK—The dollar weakened broadly amid concerns that U.S. monetary policy may stay loose for a while.
The buck reacted to White House confirmation that Federal Reserve Bank of San Francisco President Janet Yellen is the "top contender" to succeed Donald Kohn as Fed vice chairman. To help the economy recovery, Ms. Yellen favors keeping interest rates low, and the prospect that the Fed's loose monetary policy would stay in force longer pressured the greenback. Mr. Kohn is set to retire in June.
The dollar slumped 0.9% against the U.K. pound and the Swiss franc, while the euro touched $1.3796, the strongest point since Feb. 11. The greenback also plunged to a 19-month low against the Canadian dollar at C$1.0157.
Investors will be watching the Federal Open Market Committee's rate-setting meeting on Tuesday for policy clues in the statement following the rate announcement. The Fed is widely expected to leave rates unchanged near zero.
