Newspaper article China Post

Asian Currencies Expected to Rise 4-5 Percent in '14: DBS

Newspaper article China Post

Asian Currencies Expected to Rise 4-5 Percent in '14: DBS

Article excerpt

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TAIPEI, Taiwan -- Against the weakening momentum of the greenback, Asian currencies led by Singaporean dollars and South Korean won are expected to appreciate by 4-5 percent, DBS said.

Tommy Ong ([...]), executive director of Treasury & Markets at DBS Bank Hong Kong, recently said in a foreign currency investment outlook that he believes investors have cleared most of their long position contracts of U.S. dollars, signifying that the uptrend of the U.S. dollar is nearing an end.

The market expectation that the U.S. Federal Reserve's (FED) tapering-off of a massive bond-buying program would continuously push up the green back is turning rusty, Ong said.

Ong gave an upbeat outlook on this year's performance for most Asian currencies other than the Indonesian rupiah and the Indian rupee, predicting that Asian currencies would average 4-5 percent of appreciation.

The Federal Reserve's gradual exit from stimulus spending has not had an impact on most of Asia, but India is an exception, DBS said recently. …

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