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Citigroup sees worst over for Asian currencies

Posted on 24 September 2013

The world’s biggest foreign- exchange traders say it’s time to buy Asian currencies as outflows from the region ebb and the US Federal Reserve’s decision to maintain its record stimulus helps reverse a four-month slide.
The Bloomberg-JPMorgan Asia Dollar Index has risen 1.6 per cent since August 30, set for the best month since January 2012. Investors pumped $1.4 billion into equity funds in Asian emerging markets in the week ended September 18, the second straight period of inflows, according to EPFR Global data. They pulled $91.2 million from bond funds that week, compared with $310.8 million in the previous period…………………………………..Full Article: Source


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