Singapore Surprise Easing Sets Off Asia Currency Declines: Chart

Surprise policy easing by Singapore’s central bank sent the local dollar down as much as 1 percent and weakened other Asia-Pacific currencies amid speculation policy makers across the region will follow suit. The city-state’s dollar slumped after the monetary authority returned to the stance of zero currency appreciation it adopted during the global financial crisis. Malaysia’s ringgit and New Zealand’s dollar fell the most this month.

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