JPMorgan Sees Asian Currencies Extending Rout on Economy

Asian currencies are poised to extend declines amid concern an increase in borrowing costs in China and a weakening yen threaten economic growth in the region, JPMorgan Chase & Co. said.

“A trend of bearish” Asian currencies will “kick off,” JPMorgan analysts including Hong Kong-based Bert Gochet wrote in a report yesterday. “Worries over China’s tight liquidity stance generate downside risks to growth.”