Strong dollar rally weighs heavier on struggling Asian countries
Markets
Asian countries risk falling behind in upping rates to defend their currencies
The dollar rose after the release of last weekend’s U.S. employment report, putting pressure on Asian currencies. (Photo by Akira Kodaka)
BANGKOK — For Asian countries struggling with high oil prices due to the Iran war, the dollar’s rise is adding to their burden. While expectations for a U.S. Federal Reserve rate hike growing, and with economic uncertainty running high, Asian countries are finding it more difficult to defend their currencies.
