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Currency cross-currents

10 Oct , 2022   By : Monika Singh


Currency cross-currents

While currency depreciation in Asia has been predominantly driven by the strengthening dollar, Asian currencies are still stronger than the currencies of some developed nations.



Even the rate hikes have been more benign in Asia and the bond yields have similarly not risen as much in Asia as compared to other developed economies.



Asian nations seem to have more ‘independence’ from the Fed given comparatively benign inflation, indicating their central banks may not tighten interest rates deeper into restrictive territory and sacrifice domestic demand in the process.


In fact, a Morgan Stanley report says Asia’s growth differentials with the US and other developed nations is to rise significantly in 2023.

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