Asian Currencies Slump to Lowest Since 2022 on Dollar Strength [Yahoo! Finance]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Yahoo! Finance
(Bloomberg) -- Asian currencies slumped to their weakest in more than 19 months after the dollar strengthened amid the prospect that US interest rates may stay higher for longer. Most Read from Bloomberg Supreme Court Poised to Allow Emergency Abortions in Idaho YouTuber Dr Disrespect Was Allegedly Kicked Off Twitch for Messaging Minor FedEx Stokes Investors With Hint of a Freight Deal Volkswagen Invests $5 Billion in EV Startup Rivian to Form Joint Venture Bolivia's President Arce Swears in New Army Chief After Coup Bid The Bloomberg Asia Dollar Index fell 0.1% on Thursday to the lowest level since November 2022. The move came after the Philippine peso and the India rupee closed near record lows the previous day while the South Korean won closed in on the key 1,400 per dollar level. The resurgent dollar is wrecking havoc in Asia this year, putting pressure on central banks to step up the defense of their currencies. Traders are watching for authorities to intervene i
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