Most Asian Emerging Currencies Decline as China's Yuan Weakens
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Most Asian emerging-market currencies weakened on speculation China will allow its currency to keep declining after it dropped last week beyond the level it was forecast to reach by year-end.
The offshore yuan headed toward a record low Monday after the central bank fixed the currency weaker, signaling tolerance for further declines amid a strengthening dollar and a drop in exports. The South Korean won fell for a third day, while the Taiwan dollar and Malaysian ringgit also depreciated.