Asia Feels the Knock-On Effects of the Dollar’s Tumble
Beijing pushes back against letting the yuan strengthen, helping restore calm to Asian currency markets.
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The sharp volatility in Asian currencies this week shows the end of US exceptionalism is causing ripple effects all over the world.
While the Taiwan dollar has been in the spotlight, with wild swings this week forcing an emergency briefing by the central bank, there’s also been strong gains in the Japanese yen and Malaysian ringgit.