The dollar soared against high-yielding currencies and Asian emerging markets sank Friday on the prospect of higher US interest rates, with dealers betting Donald Trump's planned huge spending policies will fire inflation.
Asian equities tumbled Wednesday, extending a global sell-off, and the Mexican peso fell after a poll showed Donald Trump overtaking market favourite Hillary Clinton in the race for the White House.
The dollar struggled at multi-month lows against the yen and euro yesterday following more weak US data, while most stock markets rose in line with a strong lead from Wall Street.
Asian markets turned mostly lower yesterday, tracking a sell-off in New York, and capping a volatile week as investors grow concerned about the state of the global economy.
Crude oil futures rose in thin trade as many Asian markets were on holiday for Lunar New Year, with few trading cues expected until Federal Reserve Chair Janet Yellen gives testimony to lawmakers later in the week.
Shanghai stocks swung sharply again Tuesday on continuing worries about China's economy, while most other Asian markets extended losses in one of the worst trading starts to a year.
