Asian Currencies Climb to Seven-Month High on U.S. Jobs Report
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Asian currencies climbed to a seven-month high after a report showed U.S. jobs rose more than economists estimated, tempering concern about a global slowdown and bolstering appetite for riskier assets.
The Bloomberg-JPMorgan Asia Dollar Index, which tracks the region’s most-active currencies, touched 117.43, the highest since March. India’s rupee rose to a level not seen since April and the Philippine peso reached its strongest in more than two weeks after data showed American employers added 162,000 jobs last month, topping the median forecast of 140,000 by economists surveyed by Bloomberg News. The European Central Bank meets today to discuss ways to contain the region’s debt turmoil.