Asian currencies struggle on Fed issues

HONG KONG: Currencies in developing Asia struggled on Wednesday as concerns grow that the US Federal Reserve will soon begin to unwind its massive stimulus program, diverting cash back to the West.

Asian share markets were mixed as investors awaited the release later in the day of minutes from the Fed’s July policy meeting. They are anxious to see if higher US interest rates are in the offing, which would lessen the appeal of emerging markets for investors.