Trump tariffs send Asia currencies falling; Korean won biggest loser

Singdollar unchanged against greenback as US tariff on S'pore exports remains at 10%

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BENGALURU/SINGAPORE - Asian currencies fell to multi-month lows on Aug 1 with South Korea's won and Malaysia's ringgit bearing the heaviest losses as investors left riskier regional assets after the US imposed new tariffs on dozens of trading partners.

The won weakened 0.69 per cent to an over two-month low of 1,401.53 against the US dollar, while the ringgit dropped 0.5 per cent to its weakest since June 23. Both currencies are set for their worst weekly performance since late February and late January, respectively.

Among other currencies, the Taiwan dollar and Thai baht declined more than 0.3 per cent, while the Philippine peso recovered from earlier six-month lows to trade flat.