41. Taiwan has let its currency weaken along with other currencies in the region to keep local products competitive on world markets. 42. That does not mean the currency will not weaken. 43. The Australian currency had weakened recently amid expectations the bank would soon cut rates. 44. The cut will make it more expensive for companies to borrow overseas, further squeezing their earnings as the currency weakens and the economy slows. 45. The Hong Kong markets have been under attack after Thailand and many other Asian currencies bowed to market pressure and let their currency weaken this year. 46. The Philippines and other Asian countries allowed their currencies to weaken after the baht was devalued last month. 47. The question is whether Malaysia will let its currency weaken further to make its exports more attractive. 48. The U.S. currency gained against the yen after investor George Soros said he expects the Japanese currency to weaken against the dollar for the next two years. 49. U.S. monetary authorities staged their third round of dollar buying during the April to June quarter when the U.S. currency weakened again at the end of May. 50. When less powerful currencies fall, pressure grows in places like Japan and China to let their currencies weaken. |