Asian Currencies Affected in Forex Trading By U.S. Problems

by Trader Rich

South Korean won leads Asian currencies lower in forex tradingThe South Korean won is leading Asian currencies lower in forex trading as U.S. economic data points to fewer exports. Risk aversion is also playing a roll in the issues with Asian currencies.

The slowing U.S. economy, with job loss and consumer spending down, Asian currencies are suffering as the exports they rely on decline. Bloomberg reports on Asian currencies in forex trading:

“Risk aversion is picking up again,” said Nizam Idris, a currency strategist in Singapore at UBS AG, the world’s second- largest currency trader. “The market is concerned about the economy again. Under this sort of environment, Asian currencies will weaken.”