US dollar rallies in Asia after China data

Tokyo

THE US dollar rallied against emerging currencies in Asia on Tuesday as Chinese trade data showing an import slump fuelled anxiety about slower growth of the region's largest economy.

The risk-off mood, fanned by a decline on Monday in crude oil prices, weighed especially on the Indonesian rupiah and the Malaysian ringgit. The greenback advanced more than one per cent against the rupiah. Dealers also sold the US dollar against the yen, which is seen as a safe-haven currency in times of turmoil, as they sought refuge from riskier assets.