Dollar to surge afresh in '16; EM currencies to crumble: JP Morgan
Bank's report highlights the acute risks faced by the US Fed as the time for the expected rate hikes nears
Tokyo
THE US dollar is likely to enjoy a further surge in value next year, especially against crumbling emerging-market currencies, investment bank JP Morgan predicted in a report on Wednesday.
The leading Wall Street institution also forecast further falls in the value of the Chinese renminbi, and suggested that the yen was likely to appreciate against most leading currencies in 2016, as the Bank of Japan (BOJ) had gone against foreign-exchange markets' expectations that it would opt for further monetary easing following two major exercises.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
China’s Xi lands in Serbia after talking Ukraine, trade in France
Stormy Daniels details alleged sex with Trump at hush money trial
Indian vote body tells X to remove Modi party video targeting Muslims, opposition
Inflation-hit Argentina has a new top banknote, worth just US$10
Trade between Singapore and Asean was at S$295.6 billion in 2023
One out of every 24 New York City residents is a millionaire