Most Asian currencies softer as recession fears grip markets

The Indonesian rupiah weakened as much as 0.5% to 14,305 against the dollar despite a modest improvement in economic fundamentals.

BENGALURU: Most Asian currencies weakened on Thursday as recession warnings from the U.S. bond market dented investor risk appetite, cutting short a modest respite after the United States delayed some tariffs on imports from China.

The U.S. Treasury 30-year bond yield slumped below 2% for the first time on Thursday as fears of a global recession gripped financial markets and drove investors towards safe haven assets.