Asia Currencies Set for Worst Month Since ’97

Asian currencies were set for their biggest monthly loss in more than a decade as concern some European nations will struggle to pay their debts and a global slowdown bolstered demand for the relative safety of the dollar.
South Korea’s won is poised for its worst month since February 2009 and Taiwan’s dollar dropped the most since 1997 as global funds pulled more than $4 billion from their stock markets. About three-quarters of 1,031 investors, analysts and traders said the euro-area economy will fall into recession during the next 12 months, according to a Bloomberg quarterly Global Poll published yesterday. The Federal Reserve warned of “significant downside risks” to the U.S. economy on Sept. 21.      Read More

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