27.08.2015 - Currency volatility upsets Asian growth plans
Faced with falling exports and deflation risks, it suited much of Asia to let their currencies drift lower, until China's abrupt devaluation triggered a tide of volatility that is upsetting not just their currency management but also their growth strategies. China's 2 percent devaluation on Aug. 11 added to evidence that its economy was struggling, and overseas it caused a ripple of panic that a currency war was in the offing. Currencies and stock markets in the region have since tumbled to multi-year lows, pulling global markets in their wake, as worries about China played into broader concerns about global growth, a collapse in commodity prices and the timing of a rise in U.S. interest rates...............................................Full Article: Source
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