Singapore — The dollar extended its losses on Friday as major central banks signalled that the era of cheap money was coming to an end in a boon to sterling, the euro and the Canadian dollar, while Asian shares were hit by dismal performances of European and US markets. "International markets continued to adjust for a 2018 outlook where other central banks join the Fed in gradually reducing monetary stimulus," Ric Spooner, chief market analyst at CMC Markets in Sydney, wrote in a note. The dollar index fell 0.1% to 95.505, poised for a 1.8% slide this week, having fallen in all sessions but one. It is down 1.45% for the month, and 4.8% for the quarter. The Korean won weakened against the dollar after the country reported industrial production rose by 0.2% in May from a month earlier, missing expectations for growth of 1.5%. That followed a 2.2% decline in April The dollar was up 0.3% at 1,144.3 won. But the greenback remained lower against other major currencies. Adding to the dolla...
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