Asian currencies: rupiah cuts losses

Posted by 7Star Tuesday, January 26, 2010

The Indonesian rupiah dipped in tandem with local stocks on Monday but later cut losses after Fitch upgraded Indonesia's rating to just one notch below investment grade, boosting market confidence. Asian currencies lacked clear direction as investors were torn between the US dollar's general weakness and falling regional stocks, which followed Wall Street's slide on Friday due to worries over the US plan to curb bank risk-taking.

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