ASIAN emerging market currencies extended steep losses on Thursday, led by the Malaysian ringgit and Thai baht, after escalating tensions between Iran and Israel continued to sustain safe-haven demand for a resurgent dollar.
The ringgit, which has weakened in the last three sessions, and the baht slipped as much as 1.1% to their lowest levels in two weeks. The Indonesian rupiah followed suit to retreat 0.9%, the lowest since Sept. 13. The currency declined for its fourth consecutive session.
