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Ruth Carson
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Carry-Trade Losses Smash Records Amid Mad Dash Into Dollars

Carry-Trade Losses Smash Records Amid Mad Dash Into Dollars

The greenback soared against emerging-market currencies as investors made another stampede into haven assets on fears that the coronavirus will send economies into freefall. Losses in Asia were led by the Indonesia rupiah and Korean won, which are particularly sensitive to global growth. Both slid about 3% as the number of countries shuttering borders and imposing self-isolations soars. Thailand’s baht and the Malaysian ringgit dropped around 1% after S&P warned the epidemic could cost the Asia-Pacific region $620 billion in economic losses. “In an almost synchronized run for safety most...

March 23, 2020
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