Euro Falls Most in Eight Months, Commodity Currencies Tumble

The euro dropped the most against the dollar in eight months as the European Central Bank signaled it may not raise interest rates next month, while currencies of commodity exporters plunged as raw-materials prices tumbled the most in two years.

Japan’s currency climbed versus all of its 16 most-traded peers and reached the strongest level in six weeks against the dollar as falling commodities prompted investors to unwind bets in higher-yielding assets financed with yen. Norway’s krone was the worst-performing major currency, dropping the most in a year against the greenback.