Asian Currencies Fall a Fifth Month in Longest Streak Since 1998

Asia’s emerging-market currencies retreated for a fifth month, the longest run of declines since the region’s financial crisis in 1998, as monetary easing by nations including Singapore and India spurred demand for dollars.

The Federal Reserve bolstered its assessment of the U.S. economy while repeating a pledge to stay “patient” on raising interest rates this week as reports in January showed jobless claims fell and hiring rose. Singapore said it would slow the pace of exchange-rate appreciation against a basket of currencies, becoming at least the ninth nation to loosen policy this month.