Most Asian Currencies Weaken on Poor Risk Appetite

In early Asian trade, most Asian currencies are weaker against the USD due to a lack of risk appetite. Fawad Rasaqzada is a market analyst for City Index and FOREX.com. He says that the mood appears to be downbeat due to increased geopolitical risk from the Middle East and current economic uncertainty. The analyst says that recent FX correlations suggest a sell-off in equity markets could result in USD maintaining its strength against commodity currencies. The analyst adds that AUD/USD fell 0.2% at 0.6314, NZD/USD dropped 0.3% at 0.5830, USD/SGD rose 0.2% at 1.3737 and USD/KRW edged 0.1% higher at 1,358.51. (EMAIL).