Asian Currencies Fall, Led by Ringgit, on Intervention Concerns
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Asian currencies fell for the first time in six days, with Malaysia’s ringgit and the Thai baht retreating from 13-year highs, on concern recent gains were too rapid and central banks may intervene to protect exporters.
The Bloomberg-JPMorgan Asia Dollar Index, which tracks the region’s 10 most-traded currencies excluding the yen, slid from a two-year high. The ringgit declined 0.2 percent to 3.0940 per dollar as of 4:34 p.m. in Kuala Lumpur, according to data compiled by Bloomberg. The baht dropped 0.1 percent to 30.68. Financial markets were shut for holidays in China, Japan, Hong Kong and South Korea.