Currency World Splits Into Winners, Losers on China Trade Woes
- Real, Aussie, kiwi tumble as commodities outlook dims
- Havens franc, yen benefit as carry trades are reversed
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China is again calling the shots for foreign-exchange traders.
Currencies linked to raw-materials exporters are tumbling against the dollar as Chinese imports declined for an 11th month, adding to concern that a slowdown in the world’s second-largest economy will damp global growth. Refuges, including the Swiss franc and the yen, are rebounding. Investors are unwinding trades that used those currencies to buy higher-yielding assets after the Federal Reserve held rates near zero last month.