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South Korean won and Taiwan dollar latest casualties in trade war

Currencies hit lowest levels in over two years on clouded China outlook

The South Korean won is down well over 2% from the end of April to reach a 28-month low.

HONG KONG -- The intensifying trade war between the U.S. and China is causing Asian currencies to fall as concern about the effect on the Chinese economy drives risk-averse investors out of the region.

The South Korean won and the New Taiwan dollar both reached 28-month lows on Friday. The won softened as far as 1,196 against the dollar at one point, down well over 2% from the end of April, while the Taiwanese currency touched 31.4 to the greenback. The Philippine peso and the Indonesian rupiah also have each weakened more than 1% so far this month.

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