March 11 (Bloomberg) -- South Korea’s won and the Taiwan Dollar gained as speculation U.S. bank finances are improving helped counter concern about a deepening global recession. The Philippine peso slid after China’s exports fell by a record.
The won rose for a fourth day, the longest winning streak this year, after Citigroup Inc. said it was having its best quarter since 2007, easing concern swelling losses would prompt financial companies to hoard dollars.
The Bloomberg-JPMorgan Asia Dollar Index, which tracks the region’s 10 most-active currencies,
excluding the yen, surrendered early gains after na reported a 26 percent drop in exports for February.
Asian currencies had been trading larger as buck weakened to a recent low for the month after US Federal Reserve chair Janet Yellen expressed subject about persistently low inflation.
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