Asian currencies dropped, led by Malaysia’s ringgit and Singapore’s dollar, as demand for emerging-market assets declined on concern Greece’s debt crisis will worsen.
The ringgit fell to its weakest level in almost two months and the Singapore dollar retreated to a one-month low after President Barack Obama said failure to raise the U.S. government debt ceiling by early August might disrupt the global financial system and plunge the world’s largest economy into another recession. Greece will plead today for a boost in its 110 billion-euro ($155 billion) financial lifeline from European governments and the International Monetary Fund
The ringgit fell to its weakest level in almost two months and the Singapore dollar retreated to a one-month low after President Barack Obama said failure to raise the U.S. government debt ceiling by early August might disrupt the global financial system and plunge the world’s largest economy into another recession. Greece will plead today for a boost in its 110 billion-euro ($155 billion) financial lifeline from European governments and the International Monetary Fund
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