Currencies, stocks tumble as dollar surges on Trump trade momentum

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The story "Currencies, stocks tumble as dollar surges on Trump trade momentum" was covered 1 weeks ago by The Star, a news publisher based in Malaysia.

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The Star 1w ago

Currencies, stocks tumble as dollar surges on Trump trade momentum - The Star

Quick Summary:

Asian currencies extended losses on Thursday, pressured by the greenback surging to a one-year high on momentum triggered by Donald Trump's election victory while emerging market stocks traded lower on an uncertain economic outlook.

Investors have hiked their short bets on Asian currencies, according to a Reuters poll.

Meanwhile, the Indonesian finance minister defended plans to raise value added tax in January amid criticism it will hurt consumers, in order to maintain the health of the state budget.