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Asia Buying Dollars

Dan Damon Dan Damon | 09:20 UK time, Friday, 9 October 2009

PLEASE USE COMMENTS TO EXPAND ON THIS STORY, ESPECIALLY IF YOU ARE TRADING IN CURRENCIES OR IN EXPORT BUSINESS

When your trading partner's currency weakens, it's not all good news. Yes you can buy their goods more cheaply. But they can't buy yours. So Asian central banks bought US dollars yesterday to weaken their own currencies. Nations in South East Asia are struggling with weak demand for their exports from America.

: Despite the intervention, the greenback hit one-year lows against a raft of regional currencies. The dollar index, which tracks its value against a basket of six main currencies, hit a 14-month low in New York trading.

What's happening on markets where you are and why?

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Every morning, from Monday to Friday, World Update provides a comprehensive briefing on the stories that are making the news. Presenter Dan Damon, expands on topics covered in this daily programme through the World Update blog. 
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