Kiwi Drops on Central-Bank Intervention; Real Slumps
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New Zealand’s dollar reached a 13-month low against its U.S. counterpart after the nation’s Reserve Bank said its currency sales in August were the most in seven years.
Brazil’s real tumbled to the weakest in almost six years after a poll showed President Dilma Rousseff widened her lead over opposition candidate Marina Silva. The U.S. dollar headed for its biggest monthly gain since 2012 as consumer spending in the U.S. rebounded in August. The kiwi slid against most of its 31 major peers as New Zealand Prime Minister John Key was reported as signaling the currency needs to be weaker.