ADB head: Dollar strength 'corrected', market turmoil unlikely

Asian Development Bank President Takehiko Nakao said on Wednesday that the "correction" of dollar strength since the start of this year is unlikely to cause market turmoil, with the yuan and other Asian currencies stabilizing. The head of the Manila-based lender also gave a sanguine view on China, saying that the world's second largest economy will avoid a hard-landing as it rebalances from investment to consumption-led growth. China must not hurry to loosen its existing regulations against capi