Asian Currencies Slip on Trade Fears as Authorities Try to Avert Crisis
Many of Asia's currencies are losing value against the U.S. dollar this year as China and the United States fight over trade, but analysts say policymakers are handling the dip better now than during past down cycles. China, India, Indonesia and Myanmar, to name just a few, have seen their currencies lose value since the start of 2018. The Indian rupee hit an all-time low in June, and the Chinese yuan lost 3.2 percent over the year through June. Economists point to a range of problems, including possible contagion from financial woes in Turkey and concerns about investing in Asia due to the Sino-U.S. trade war expected to hit China next week with tariffs on goods worth $16 billion. "It's just basically that everything we've worried about now and then sort of converged together," said Song Seng Wun, an economist in the private banking unit of CIMB in Singapore. But...
If you wish to read the full news article, Asian Currencies Slip on Trade Fears as Authorities Try to Avert Crisis, simply click on
'Read full story' below, but give us a 'LIKE' or share 1st