Asian Currencies Post Best Week in a Month
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Asian currencies posted the biggest weekly rally in a month after a rebound in China trade data boosted the outlook for regional exports and growth.
South Korea’s won led the advance, helping spur a 0.4 percent gain in the Bloomberg-JPMorgan Asia Dollar Index. Overseas shipments from the world’s second-biggest economy rose 5.1 percent in July, while imports increased 11 percent, with both figures beating forecasts and recovering from a contraction in June. The numbers come amid concerns about a possible end to the Federal Reserve’s monetary stimulus that has driven demand for emerging-market assets.