Hard to find silver lining for EM currencies: Bank of Singapore report
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Mindy Tan
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Singapore
LOWER carry cost and the battle against "lowflation" will fuel further weakness in the Singapore dollar (SGD) as well as the Korean won (KRW) and New Taiwan dollar (TWD), said Bank of Singapore in a report on Tuesday.
Given that inflation is well below the central banks' targets and the external outlook remains sluggish, policymakers could introduce more measures to limit the currency strength of these countries, as has happened in recent months, said the report, citing Korea and Thailand's recent move to encourage capital outflow.
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