Currencies

Asian currencies dropped sharply on Friday, with South Korea’s won and Malaysia’s ringgit suffering the steepest declines, as US President Donald Trump announced sweeping new tariffs on imports from dozens of trading partners. The move sparked a retreat from riskier regional assets, highlighting investor anxiety about the direction of global trade policy.The South Korean won weakened 0.69% to 1,401.53 per dollar, its lowest level in more than two months, while the ringgit shed 0.5% to hit its weakest mark since late June. Both currencies are poised for their worst weekly...