'Chaotic era' for Asian currencies: Bank of America is not bullish on any of them
Publishing timestamp: 2024-04-23 23:04:29
Summary
Bank of America is bearish on a number of Asian currencies and neutral on others due to delayed Federal Reserve easing cycle and sustained strength in the U.S. dollar. The investment bank singled out Chinese yuan, South Korean won, Taiwan dollar, Thailand baht, and Vietnamese dong as bearish. They expect the Chinese yuan to weaken further and the Korean won to be significantly impacted by geopolitical risks. The Taiwan dollar and Vietnamese dong are also expected to face depreciation pressures.
Sentiment: NEGATIVE
Tickers: SGD=, PHP=, KRW=, VND=, MYR=, TWD=, THB=, INR=, IDR=, HKD=, .DXY, CNY=,
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