Thursday, May 28, 2015Thursday, May 28, 2015
Business
 

Solid US retail data hurts Asian currencies

Published on Apr 15, 2014 4:36 PM
 

SINGAPORE (Reuters) - Most emerging Asian currencies eased on Tuesday as upbeat United States retail sales data lifted the dollar and geopolitical tensions in Ukraine reduced appetite for riskier assets.

Investors stayed cautious ahead of speeches from US Federal Reserve Chair Janet Yellen this week and China's first-quarter economic growth data on Wednesday.

The South Korean won slid on dollar demand linked to local companies' dividend payments to foreign shareholders and as importers bought the greenback for payments.

The Philippine peso dipped on dollar demand from local importers and higher bond yields.

 
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!

Videos