Asian currencies had the best week since September 2012, led by Indonesia’s rupiah and India’s rupee, as signs the U.S. economic recovery is losing pace fueled speculation the Federal Reserve will slow further stimulus cuts.
Thailand’s baht rose to a two-week high as overseas investors boosted holdings of the nation’s shares after anti-government protesters removed blockades at four main intersections in central Bangkok this week.
The U.S. economy will grow this year at its fastest pace since 2005, helping reduce the annual average unemployment rate for a fourth straight year even as market borrowing costs rise, the Obama administration predicted.
U.S. stocks ended the session little changed with the Standard & Poor’s 500 Index failing to hold above its record closing level for a third straight day. The dollar strengthened against most major peers while gold slid with silver and natural gas dropped a third day.