The dollar extended the biggest weekly decline in three years after Federal Reserve Vice Chairman Stanley Fischer said there won’t be a “smooth upward path” for interest rates even as the first increase may be warranted before the end of 2015. The greenback dropped against all of its 16 major peers as Fischer, in remarks at the Economic Club of New York, said subsequent rate increases will be subject to economic and geopolitical events. While policy makers undermined the dollar last week when they cut projections for higher borrowing costs, the U.S. currency still is set for a ninth month of gains as the Fed moves toward raising rates while global peers including the European Central Bank are adding to stimulus. The Bloomberg Dollar Spot Index fell 0.9 percent to 1,183.93 at 3:46 p.m. in New York after touching 1,183.90, the lowest level since March 6. It tumbled 2.2 percent last week, the biggest weekly decline since October 2011. The dollar weakened 1.4 percent to $1.0970 per euro, after earlier strengthening as much as 0.5 percent. It slipped 0.3 percent to 119.71 yen. Source : Bloomberg