Commodity Rout Extends to Currencies Led Lower by Kiwi to Loonie
This article is for subscribers only.
Janet Yellen is breaking up the six-year-long party in the currencies of economies tied to commodities, with New Zealand’s dollar suffering the worst hangover.
The Federal Reserve chair’s determination to raise U.S. interest rates this year has seen the currencies of New Zealand, Australia, Canada and Norway underperform their developed-market peers in the past three months. The kiwi has lost 14 percent in that time, or more than the other three combined.