Won leads Asia FX lower as G20 gives green light to weak yen

SINGAPORE: The South Korean won led slides among emerging Asian currencies on Monday after the Group of 20 did not criticise Japan's reflationary policies, which have driven down the yen. The won lost 0.5 percent against the dollar, while the Singapore dollar and the Malaysian ringgit both eased 0.2 percent.

The G20 on Saturday declined to single out Tokyo but committed to refrain from competitive devaluations and said monetary policy would be directed only at price stability and growth. Japan said this has given it a green light to pursue its policies unchecked.