No Bang from this Buck

Asia could be heading for trouble again. And it's for an all too familiar reason: currency gyrations. Lacking in solid support from internal demandespecially private consumptionAsia has long been overly dependent on exports as its main driver of economic growth. As such, it is highly sensitive to swings in currency markets, which ultimately define the terms on which Asia exchanges its goods with the rest of the world.

Most of Asia is now facing currency headwinds. That's because the region continues to tie its fate to the U.S. dollar. After nearly three years of declines from early 2002...