Royal Bank of Canada sued three private wealth clients in Singapore, joining companies including Goldman Sachs Group Inc. seeking money owed by customers after an October stock rout.
The Philippine peso strengthened to a one-month high as a report showed exports increased the most since 2010.
Asian currencies had their steepest weekly loss in nine months after the Federal Reserve increased its 2015 interest-rate forecast and China doubled the yuan’s trading band.
The ringgit headed for its biggest weekly decline in two months as Federal Reserve officials raised their 2015 forecast for the U.S. benchmark interest rate, spurring a rally in the dollar.
Asian currencies fell this week, led by South Korea’s won and Malaysia’s ringgit, as signs Chinese growth is slowing and political tension in Ukraine deterred risk-taking.
The Philippine peso headed for its steepest weekly decline since January on further signs growth in China is slowing.
China’s default risk has risen beyond that of Ireland, having been on par with France and Japan a year ago, as Premier Li Keqiang said financial leverage is making the economy’s outlook more complex.
An Indonesian presidential victory by Joko Widodo would spark a rally in the rupiah, according to Malayan Banking Bhd. and Morgan Stanley. There’s only one snag: the popular Jakarta governor hasn’t been selected to run yet.
Most Asian currencies fell this week as signs of an improving U.S. economy bolstered demand for the dollar amid tapering from the Federal Reserve that’s spurring outflows from emerging markets.