(Bloomberg) -- Asian currencies climbed on
speculation the region will allow gains after China widened the
yuan's daily trading band, which may lead to faster appreciation.
The Malaysian ringgit rose to a 9 1/2-year year high and the
Philippine peso touched the strongest in six years after the
People's Bank of China May 18 also raised interest rates and
ordered banks to put aside more money as reserves. Faster gains
in the yuan may benefit the region's exports because it makes
China's goods more expensive to overseas buyers.
Read more at Bloomberg Currencies News
speculation the region will allow gains after China widened the
yuan's daily trading band, which may lead to faster appreciation.
The Malaysian ringgit rose to a 9 1/2-year year high and the
Philippine peso touched the strongest in six years after the
People's Bank of China May 18 also raised interest rates and
ordered banks to put aside more money as reserves. Faster gains
in the yuan may benefit the region's exports because it makes
China's goods more expensive to overseas buyers.
Read more at Bloomberg Currencies News
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