Central Banks in Asia Becoming Wary of Currency Intervention

Some of emerging Asia’s biggest central banks look to be dialing back their interventions in the currency market.

The central banks of India and Malaysia have reduced the size of some derivatives positions they use to weaken their currencies. Taiwan has allowed its currency to surge against the dollar in recent weeks and dropped hints it would be comfortable with more if the moves were “orderly.” South Korea’s giant national pension fund has ended its five-month support of the won.