Developing Country Currencies Rose Under Won Leadership
Developing Country Currencies Rose Under Won Leadership The currency won rose after data showed South Korea was growing above expectations.
Fujitomi Co In Tokyo, Tetsuya Yamaguchi, an analyst at China, said the recovery in equity markets, including Chinese stock markets, had also supported currencies. The Bloomberg Dollar Spot Index was horizontal at 1,195.56, while the MSCI AC Asia Pacific Index rose 0.6% to 173.49 points.
Won rose as South Korean treasury bonds fell. The Malaysian ringside and Philippine peso rose, while the Indonesian rupee and Chinese yuan were horizontal.
Malayan Banking analysts in Singapore reported that concerns about the SARS-like virus in China that its impact on Asian currencies would be temporary and moderate.