Philippine peso, Malaysian ringgit sink on China's economic woes

Trade ties to No. 2 economy spur rate cut speculation in Australia and Thailand

20240124N Asian currencies

From the Philippine peso to the Australian dollar, a wide range of Asia-Pacific currencies faces weakness against the U.S. dollar. (Photo by Akira Kodaka)

TAKAHISA TAMURA and MIKI KAMIYAMA, Nikkei staff writers

TOKYO -- Currencies across the Asia-Pacific region have slipped to their weakest levels against the dollar in months, as the slowdown in China casts a shadow over countries holding strong economic and trade ties with Beijing.

The Philippine peso, Indonesian rupiah and Malaysian ringgit were among those that reached a three-month low against the dollar on Wednesday. The Thai baht and Australian dollar are trading around their weakest in one to two months.

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