It seems the Korean Won, Indian Rupee, Malaysian Ringgit, Indonesian Rupiah and Sing and Taiwan dollars all weakened significantly against the USD. The pressure remains broad based and given the high risk aversion, weak equity markets, portoflio capital outflows and weaker exports it makes it hard for the direction to change any time soon.
The Bank of Korea, Malaysia’s and Indonesia’s central banks were all seen intervening in the markets today.
