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Asia seen at turning point in currency rally
Every currency in the region will weaken by year end, according to Bloomberg poll
GROWING HEADWINDS: "Deflationary fears, competitiveness issues and weaker long-term growth prospects in China suggest looser monetary policy in the surrounding countries," Standard Life's Mr Dickson said. "For much of Asia, the exchange rate is the main expression of this softer policy stance." He added that the South Korean won (above) and the Taiwan dollar are likely to be the worst performers.
PHOTO: BLOOMBERG
GROWING HEADWINDS: "Deflationary fears, competitiveness issues and weaker long-term growth prospects in China suggest looser monetary policy in the surrounding countries," Standard Life's Mr Dickson said. "For much of Asia, the exchange rate is the main expression of this softer policy stance." He added that the South Korean won and the Taiwan dollar (above) are likely to be the worst performers.
PHOTO: BLOOMBERG
Singapore
THE rally in Asian currencies from January's seven-year low hasn't convinced strategists that this newfound strength can last. Every currency in the region will weaken by year end, with those of Singapore, Taiwan and South Korea all predicted to drop at least 3 per cent, surveys
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