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Asian currencies slip as investors worry about rising China COVID cases
Most Asian currencies were on the back foot on Wednesday as a surge in Chinese COVID cases led investors to shun risker assets on concerns the spreading infections in the world’s second-biggest economy will hamper regional economic growth. The Philippines peso and the Indonesian rupiah were leading the laggards for the day, losing about 0.4% and 0.3%, respectively. A continued surge in COVID-19 cases in China spurred a risk-averse sentiment, undermining the optimism from the previous day, when Beijing announced a loosening of travel restrictions. Beijing said it would stop requiring inbound travellers to go into ... (full story)