Kiwi Leads Commodity Currencies Lower on China
Latest news from Bloomberg this morning.
Currencies of commodity-exporting nations including New Zealand and Australia dropped versus the dollar amid concern that growth in China, the world’s second-biggest economy, is slowing.
New Zealand’s dollar sank against all of its 31 major peers after a private survey suggested China, the nation’s biggest trade partner, remains stuck in “low gear.” The Australian dollar and Brazil’s real fell to seven-month lows, while the Bloomberg Dollar Spot Index rose to a four-year high.
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