Asia’s emerging currencies plunge amid fears of Trump trade barriers

Concerns about possible US inflation also acted to push the US dollar higher against units such as the Indonesian rupiah and Malaysian ringgit

Asia’s emerging currencies have have been hit hard by a wave of selling as financial markets bet on the prospect of Donald Trump pursuing protectionist trade policies.

Despite stocks closing at an all-time high on Wall Street, investors across Asia turned cautious on Friday on fears that Trump could stifle access to the world’s biggest economy and that his expansionist fiscal plans could fire inflation at home and higher US interest rates.

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Yuan headed for steepest weekly fall since Jan to a 6-year low, close to post-2008 peg. USD index at 8-month high, EM currencies are hurting

THIS is your currency to watch today. Indonesian Rupiah weakens most in over 3 years. (yes that’s a 1-day move on the chart)

– Ringgit, won tumble
– Global bonds selloff
– Oil swings to losses
– Emerging stocks drop

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