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Asian currencies ‘set to rise’ as markets price in Fed shift

Posted on 08 July 2013

Asian currencies will gain some ground against the US dollar in the next twelve months despite sputtering regional economies and dwindling yields, according to a consensus forecast in a Reuters poll. Emerging Asian currencies have been among the worst-hit in the global sell-off that was triggered in late May after the US Federal Reserve signalled a possible reduction in its stimulus programme.
The announcement sent investors racing out of risky Asian bets, in turn dragging most equity indexes and currencies in the region lower. But analysts said markets have largely priced in the Fed’s shift in policy and the US dollar stood to gain little when the stimulus tapering eventually happens………………………………………..Full Article: Source


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