Indonesia’s rupiah led a rally in Asian currencies this month with the biggest gain since 2009, as data in the U.S. that missed forecasts raised speculation the Federal Reserve will scale back its tapering.
U.S. stocks fell with Treasuries while the dollar gained as Federal Reserve meeting minutes indicated stimulus cuts would likely continue in measured steps and the International Monetary Fund warned of risks to global growth. Ukraine’s bonds tumbled while U.S. natural gas jumped.
Natural gas and oil led a gauge of commodities to a five-month high as a winter storm in the U.S. Northeast boosted fuel demand and coffee surged amid a drought in Brazil. The Standard & Poor’s 500 Index rose a third day.
Thailand’s economy grew at the slowest pace in almost two years last quarter as political unrest hurt local demand and tourism, increasing pressure on the central bank to cut interest rates and support expansion.