Rupee Leads Losses in Asian Currencies This Week on Fed Outlook
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India’s rupee led losses in Asian currencies this week as overseas investors cut holdings of the region’s stocks on speculation U.S. policy makers will cut stimulus this year.
The Bloomberg-JPMorgan Asia Dollar Index fell 0.3 percent in the five days through yesterday, after a 0.5 percent drop in the prior period. Third-quarter U.S. expansion topped estimates and growth in service industries accelerated last month, data showed this week. Economists surveyed by Bloomberg Oct. 17-18 predicted the Fed would begin paring stimulus in March.