Asia Currencies Set for Best Month in Six Years on Fed Rate Bets
- South Korean won and Thailand’s baht are leading the advance
- China’s Covid outbreak remains a risk for regional currencies
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Asian currencies are set for their steepest monthly advance in more than six years, with the approaching end of the Federal Reserve’s tightening cycle supporting gains.
The Bloomberg JPMorgan Asia Dollar Index has rallied 2.7% in November to head for its biggest monthly increase since March 2016. South Korea’s won is the best performer after logging a 7% rise, followed by the Thai baht which climbed 6.8%.