Asian currency markets in the Year of the Fire Horse; ready to gallop?
Guan Yi Low, Head of Asia Fixed Income at M&G Investments • • 9 min read
With investor positioning in Asian bonds and currency markets still relatively light, scope remains for further inflows. A shift in hedging behaviour could reinforce this trend
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Asian currency markets enter the Year of the Fire Horse at a delicate but potentially consequential juncture.
The Year of the Green Wood Snake closed on firmer footing. After four consecutive years of depreciation against the US dollar, Asian currencies edged cautiously higher. The Bloomberg Asia Dollar Index rose more than 3% over the last lunar year— a steady but deliberate ascent, much like a coiled snake gradually rising.
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