Asian Currencies Gain After Bernanke Remarks on Further Easing
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Asian currencies advanced after Federal Reserve Chairman Ben S. Bernanke said U.S. policy makers are studying further monetary easing, which previously has increased the flow of funds seeking higher-yielding assets.
Malaysia’s ringgit headed for its longest winning streak since April and China’s yuan advanced for a third day. Bernanke said yesterday possible Fed stimulus measures may include adding to two rounds of asset purchases since the global financial crisis. South Korea’s won pared its biggest gain in two weeks after North Korea announced Kim Jong Un’s appointment to the nation’s top military post.