Asian Market News Update : Epic Research Singapore

Asian currencies recorded their biggest weekly decline since April as an improving U.S. economy spurred speculation the Federal Reserve will bring forward its timetable to raise interest rates.

Fed officials review policy Sept. 16-17 after reports this week showed U.S. job openings held close to a 13-year high in July and consumer credit growth exceeded economists’ estimates. An increase in interest rates in the world’s largest economy would reduce the lure of higher-yielding emerging-market assets.

The Philippine peso fell 0.6 percent to 43.915 per dollar and Indonesia’s rupiah declined 0.5 percent to 11,818. The Malaysian ringgit retreated 0.5 percent to 3.1972, Taiwan’s dollar depreciated 0.2 percent to NT$30.068 and the Vietnamese dong was little changed at 21,200.

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