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Asian currencies weaken as Europe debt rift dims global growth outlook

Posted on 21 October 2011

Asian currencies weakened as a lack of progress in resolving Europe’s debt crisis added to concern the global economic growth is slowing, prompting investors to cut holdings of emerging-market assets.
The won slipped from a one-month high after a rift emerged between France and Germany over how to enhance a bailout fund. European Union leaders will hold a summit on Oct. 23 to discuss solutions to the crisis. Thailand’s baht fell the most since January after the central bank said the economy may contract this quarter amid the nation’s worst floods in 50 years……………………………………….Full Article: Source


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