Biggest Day in Years for Currencies as Investors Flee Risk
Euro, yen surge; kiwi, aussie tumble
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Traders in the $5.3 trillion-a-day foreign-exchange market were busy Monday.
New Zealand’s dollar plunged as much as 8.3 percent, the most in 30 years, pacing declines by currencies of resource-producing nations amid a global market selloff. On the flip side, haven currencies surged on concern China’s slowing economy will damp global growth, with the yen climbing the most since 2010.