By Lukanyo Mnyanda and Daniel Kruger Dec. 9 (Bloomberg) -- The dollar fell against most of its major counterparts as an increase in U.S. stock-index futures and commodities encouraged demand for higher-yielding assets. “Stock futures are up, and risk is seemingly back on again,” said Jeremy Stretch, a senior currency strategist in London at Rabobank International. The dollar declined 0.4 percent to $1.4767 per euro at 8:19 a.m. in New York, from $1.4704 yesterday. It earlier reached $1.4668, the strongest level since Nov. 3. The yen appreciated 0.2 percent to 129.81 per euro, from 130.03 yesterday. Japan’s currency advanced 0.5 percent to 87.98 per dollar, from 88.43. The greenback rose against most of the other major currencies yesterday as Fitch Ratings cut Greece’s credit rating, discouraging risk demand. Chancellor of the Exchequer Alistair Darling said the U.K. economy will recover from its longest recession on record next year as the government’s stimulus measures take hold. Japan’s gross domestic product rose at an annual 1.3 percent pace last quarter, the Cabinet Office said today in Tokyo. That’s slower than the 4.8 percent rate reported in preliminary figures last month and the 2.8 percent median estimate of economists surveyed by Bloomberg. Prime Minister Yukio Hatoyama unveiled a 7.2 trillion-yen ($81 billion) package to revive the economy yesterday. The Bank of Japan last week announced a 10 trillion-yen credit program. Fitch Ratings cut Greece’s credit rating yesterday one step to BBB+, the third-lowest investment grade. Standard & Poor’s on Dec. 7 put Greece’s A- rating on watch for a possible downgrade. The European Commission is ready to help Greece confront its budget deficit, European Union Economic and Monetary Affairs Commissioner Joaquin Almunia said in a statement yesterday. He didn’t say what form any assistance may take. To contact the reporters on this story: Lukanyo Mnyanda in London at lmnyanda@bloomberg.net; Daniel Kruger in New York at dkruger1@bloomberg.net

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