Date: May 24, 2015
Asian currencies completed a weekly loss, led by the Singapore dollar and Malaysia’s ringgit, as the US dollar climbed amid speculation the US Federal Reserve is on track to raise interest rates this year.
Fed officials remain open to tightening this year, though a June liftoff in rates is unlikely, according to the minutes of their April meeting released on Wednesday.
A preliminary gauge of manufacturing in China, Asia’s biggest economy, missed estimates this month even after borrowing costs were cut for the third time since November. [FULL STORY]