Asian Currencies Rebound This Week on China Stimulus Speculation
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Asian currencies rose this week, with the rupee and the won completing their biggest gains in six months, as speculation mounted that China will take steps to combat a slowdown in the region’s biggest economy.
Chinese Premier Li Keqiang said the nation should “roll out effective policies in a targeted way” and cannot ignore the risks to growth, according to a statement on the government’s website. An official gauge of China’s manufacturing is expected to show March’s growth was the least since June, while a private index is likely to point to a third monthly contraction, according to the median estimates in Bloomberg surveys before April 1 data.