Two Currency Bets in Asia Flash Warning Signs as Year-End Nears

Some of Asia’s strongest currency trends are starting to unravel in the final trading days of the year, with the South Korean won and the Thai baht leading the reversals.

The embattled won, which was approaching a threshold last breached during the global financial crisis, has bounced back since the middle of last week, as authorities signaled their support for the currency. On the other end of the spectrum, the baht, the second-best performing Asian currency this year, is ceding ground on fears the central bank may push back against the rally, which threatens the nation’s exports.