China’s planned economic reforms are burnishing the yuan’s credentials as a currency of global trade, pushing its offshore rate to the highest versus its domestic value in 10 months while damping volatility.
Malaysia’s ringgit dropped for a sixth day, the longest losing streak since February, as a U.S. services gauge that topped estimates stoked speculation the Federal Reserve will cut stimulus before year-end. Bonds fell.
Malaysia’s ringgit dropped the most in a month after a jump in U.S. business activity spurred speculation the Federal Reserve will start trimming its stimulus earlier than predicted. Government bonds retreated.
Malaysia’s ringgit fell the most in three weeks on speculation investors took advantage of the currency’s rally to buy the greenback before the government presents its budget this week. Sovereign bonds were steady.
Malaysia’s ringgit gained the most in two weeks on speculation the U.S. government shutdown will delay the tapering of stimulus that has fueled gains in emerging- market assets. Government bonds advanced.
Malaysia’s ringgit posted its biggest weekly advance since the 1998 Asian financial crisis after the Federal Reserve unexpectedly refrained from cutting stimulus that’s spurred demand for emerging-market assets.
Asian currencies rallied this week, led by Malaysia’s ringgit and Thailand’s baht, after the Federal Reserve unexpectedly maintained monetary stimulus that’s led to capital inflows to emerging markets.