Currencies Drop As Dollars Flee Asia

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Currencies Drop As Dollars Flee Asia

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Currencies Drop As Dollars Flee Asia

Wochit 0:55 mins

While currencies have dropped in Asia as dollars flee, the most affected have been India and Indonesia, two countries where many domestic and foreign investors are now rushing for the exits. According to an industry report, U.S. manufacturing activity hit a five-month high in August as hiring picked up and new orders increased at their fastest pace since January. Struggling retailer J.C. Penney is adopting a "poison pill" just two days after reporting its sixth straight quarter of big losses and steep revenue declines. The company said that the one-year shareholder rights plan will prevent any takeover attempts and will ensure that stockholders don't loss the chance to realize the full value of their investment

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