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Dollar Falls Second Day Against Yen on Fed Outlook; Kiwi Slides

The dollar fell for a second day against the yen as investors weighed when the Federal Reserve will slow the pace of bond purchases that have contributed to weakening the greenback.

The U.S. currency dropped against the majority of its 16 most-traded peers after a government report last week showed American employers hired fewer workers in July than economists predicted. The yen strengthened today as Japanese stocks slid, spurring demand for the safety of the nation’s currency. The pound rose as U.K. services growth accelerated. New Zealand’s dollar slumped after China halted imports of milk powder from Auckland-based Fonterra Cooperative Group Ltd.