TOKYO — As the dollar softens on expectations of a U.S. interest rate cut, investors are shifting money to emerging market currencies, choosing to shift away from political risk and benefit from a weaker dollar.
Asian currencies have performed particularly well against the dollar since the turmoil in global financial markets early last month. The Thai baht gained 6% from August 1 to September 12, while the Malaysian ringgit and Indonesian rupiah gained 5%.