| Asian currencies weakened, led by South Korea’s won, on concern that Europe will fail to contain its worsening debt crisis, damping the outlook for Asian exports and reducing demand for emerging-market assets.
The Bloomberg-JPMorgan Asia Dollar Index fell toward an eight-month low as the MSCI Asia-Pacific Index of shares dropped for a third day. Failure to combat the Greek-led turmoil threatened “cascading default, bank runs and catastrophic risk,” U.S. Treasury Secretary Timothy F. Geithner warned in Washington over the weekend..............................................Full Article: Source
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