Asian Currencies Drop to Seven-Year Low as Dollar Surges: Chartby
A gauge of emerging Asian currencies is heading for the lowest close since March 2009 as the dollar surged after Donald Trump’s unexpected election victory. The Bloomberg-JPMorgan Asia Dollar Index, which tracks 10 regional currencies, is down 2 percent this year. As recently as August it was up 1.7 percent. Emerging assets have tumbled in the past week as the president-elect is seen unleashing a spending surge, pushing the Federal Reserve to raise interest rates.