The dollar had its best week since 2011, spurring central banks from India to Indonesia to step in to stabilize their currencies on concern that U.S. President-elect Donald Trump will pursue policies that spur capital outflows from developing economies.
The Indonesian rupiah and South Korean won were among the day’s worst performers against the greenback on speculation Trump’s policies will weaken exports from emerging nations. Trump has signaled he’ll adopt more protectionist trade policies, while introducing fiscal stimulus that has potential to hasten interest-rate increases by the Federal Reserve.
