Asian Currencies Strengthen in Week on Signs of China Recovery
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South Korea’s won led gains in Asian currencies this week as data signaled China’s economy is improving, brightening the outlook for the region’s exports.
A manufacturing slump is easing in the world’s second-largest economy, a private survey indicated on Oct. 24, and reports earlier in the month showed growth in exports and investment gathered pace in September. The Federal Reserve said this week it will maintain its bond-purchase program, a policy that boosts the supply of dollars that can be invested in emerging-market assets. All but one of 27 economists surveyed by Bloomberg News expect the Bank of Japan to add to stimulus for the second time in two months next week.