Jun
11
Asian Currencies Drop This Week Amid Stock Outflows, MERS Risk
ByAsian currencies dropped, led by the Philippine peso, as funds pulled money from emerging markets on signs the U.S. is moving closer to raising interest rates.
Overseas investors sold a net $1.5 billion of stocks in Taiwan, South Korea and India since June 5, exchange data show. The Federal Reserve reviews borrowing costs next week as data suggests the world’s largest economy is emerging from a first-quarter slowdown. The Bank of Korea said the spread of Middle East respiratory syndrome posed a threat to consumption as it cut its benchmark rate to a record low on Thursday…
Asian Currencies Drop This Week Amid Stock Outflows, MERS Risk
