Major Asia Pacific currencies fell against the U.S. dollar on Monday morning, as investors took a risk-off approach with markets spiking after an oil price war.
The Australian dollar fell as much as 2.60% against the greenback to $0.6476, while the New Zealand dollar tumbled by as much as 2.28% to change hands at $0.6228.
The Korean won declined more than 1% against the dollar, prompting South Korea's finance ministry to issue a verbal warning against "excessive" movements in the currency market, according to a Reuters report.Major Asia Pacific currencies dropped against the U.S. dollar on Monday morning, as investors took a risk-off approach with volatility across markets shooting up over an oil price war.
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