Economics
Commodity Currencies Decline as China’s Growth Weighs on Demand
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Currencies of commodity-exporting countries tumbled versus the U.S. dollar as speculation increased that China will take more measures to cool economic growth, curbing appetite for raw materials.
The U.S. currency extended gains versus most of its 16 major counterparts after jobless claims fell more than forecast for the latest week and existing home sales increased more than projected in December. South Africa’s rand and the New Zealand, Australian and Canadian dollars dropped as prices for crude oil, gold and copper slumped.