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Asian currencies climb as soft economic data hurts dollar

Reuters 

By Shashwat Pradhan(Reuters) - Most emerging Asian currencies edged up on Monday, with the Korean won leading gains as the dollar was subdued by questions over the strength of the U.S. economy after weak economic data.The dollar's rally on the back of rising interest rates was tempered by a fall in U.S. housing starts in May to the lowest in eight months and after a barometer of U.S. consumer sentiment unexpectedly fell in early June."Whether forex markets are clueless on the way forward or dollar bulls are getting cold-feet with post-FOMC knee-jerk rallies fading, is debatable," Mizuho Bank ...

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First Published: Mon, June 19 2017. 11:39 IST
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