Asia Currencies Decline as Chinese Data Compounds Growth Concern

Asian currencies extended the week’s loss as a gauge of Chinese manufacturing fell to a 15-month low, adding to concern that the region’s growth is slowing.

The Bloomberg-JPMorgan Asia Dollar Index, which tracks the 10 most-active currencies excluding the yen, dropped to its lowest level since 2010 and posted a third weekly decline. China’s data follows a July 23 report that showed expansion in South Korea decelerated in the three months through June for a fifth quarter. A slump in commodity prices also weighed on exchange rates of Asia’s raw-material exporters, just as the U.S. prepares to raise borrowing costs.