Asian Currencies Slide as Crude Jumps on Middle East Standoff

Emerging Asian currencies were lower, with the Korean won and the Thai baht leading losses amid a stalemate in the Middle East talks to end the 10-week-long US-Iran conflict.

The Korean won fell as much as 1%, while the Indian rupee saw its biggest fall in over a month amid a rise in crude prices and gains in the dollar. The Thai baht and the Philippine peso also fell more than 0.8% each.