American focus: Dollar, Yen gain; Kiwi falls
The dollar and the yen strengthened as growing evidence that the global economy is slowing boosted investor demand for currencies perceived as being the safest.
The 17-nation euro headed for its biggest monthly decline against the yen in more than a year after data showed German retail sales fell by more than economists forecast and U.S. consumer spending slowed in August. New Zealand’s dollar extended its second week of losses against its U.S. counterpart after Standard & Poor’s joined Fitch Ratings in cutting the nation’s credit ratings. The Swiss franc strengthened against the euro even after the central bank said it will prevent currency gains.