Dollar Drops to Lowest in 5 Months as Yen Gains; Krona Slides
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The dollar fell to a five-month low against a basket of peers on speculation a drop in initial jobless claims won’t be enough for the Federal Reserve to accelerate plans to raise interest rates.
The yen gained to the strongest in three weeks against the greenback as an unexpected decline in Chinese exports revived demand for safer assets. Sweden’s krona slumped after a government report showed consumer prices dropped twice as much as economists predicted. The Australian dollar increased on jobs gains. The Bloomberg Dollar Spot Index’s slump reached five days as stocks tumbled and Treasury yields fell to four-week lows.