Dollar Falls Versus Major Counterparts; Kiwi Approaches Record

The dollar dropped against all of its 16 most-traded counterparts as U.S. consumer spending rose less than forecast, adding to speculation the Federal Reserve will lag behind other central banks in raising interest rates.

The Swiss franc rallied to a record against the euro and greenback as Europe’s sovereign-debt crisis encouraged demand for a refuge and Switzerland’s leading economic indicator held at the highest level in almost five years. New Zealand’s dollar approached a record versus the dollar after Finance Minister Bill English said China Investment Corp. is interested in buying his country’s government bonds.