Dollar weakens in Asian trade

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TOKYO, Sept 19 (AFP): The dollar was broadly lower against emerging market currencies in Asian trade on Thursday after the US Federal Reserve's surprise decision to keep its aggressive stimulus programme intact. From the Indian rupee to the Philippine peso, the Fed news boosted higher-yielding, riskier currencies in emerging markets. The rally came after they suffered heavy selling in August as foreign investors fled to the United States expecting interest rates there to rise. The rupee has been plumbing all-time record lows as fears surged that a Fed pullback would send waves of capital flowing out of the region. "Risk assets are set to stage a strong comeback after the Fed surprisingly left its asset purchase size unchanged," Credit Agricole said. "Asian currencies should strengthen, on the back of the weak dollar, and the reduced worries over capital outflows." In other trading, the dollar edged up against the yen after treading water against the Japanese unit in morning deals.