Asian Currencies Fall on Korean Peninsula Tensions, Debt Crisis in Europe

“Asian currencies had their biggest weekly loss in six months as an exchange of artillery fire on the Korean peninsula deterred investment in the region and Europe’s debt crisis bolstered demand for dollars.

The Bloomberg-JPMorgan Asia Dollar Index slid for a third week, its longest losing streak since February, after North Korea shelled a South Korean island on Nov. 23, prompting retaliatory fire. The euro sank to a two-month low yesterday as Ireland negotiated a European Union-led bailout and the Financial Times Deutschland reported that policy makers in the region are pushing Portugal to seek financial aid.

(Source: Asian Currencies Fall on Korean Peninsula Tensions, Debt Crisis in Europe – Bloomberg)

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