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China-Japan-Koreas | |
Fed's Lower Rates Pressure China to Strengthen Yuan | |
2008-02-18 | |
Central bankers in Thailand, Malaysia, Singapore and the Philippines are in the same situation, making their currencies attractive, according to money managers at the firms and Merrill Lynch & Co. Nine of the 10 best-performing currencies against the dollar in 2008 will come from Asia, surveys of foreign exchange strategists by Bloomberg show. ``You're likely to see less intervention,'' said Ramin Toloui, who helps oversee more than $60 billion in emerging- market bonds and currencies at Newport Beach, California-based Pimco. ``Several Asian central banks see more rapid exchange- rate appreciation as an important tool to fight inflation.'' After rising 7 percent last year, the yuan has appreciated 1.9 percent to 7.1679 per dollar so far in 2008. New York-based JPMorgan Chase & Co., the largest U.S. bank by market value, predicts a further 14 percent increase, while Citigroup Inc. in New York, the second largest, forecasts a 6 percent advance. Thailand's baht has climbed 3.7 percent to 32.51 this year, while the Taiwan dollar is up 2.4 percent to NT$31.71. Malaysia's ringgit and Singapore dollar are close to their highest levels in a decade. | |
Posted by:Steve White |
#2 Talked about this here. |
Posted by: OregonGuy 2008-02-18 16:45 |
#1 STRATEGYPAGE > BACK TO BLACK. China's desire of TECH INNOVATION = making it FDI profitable for foreign entrpeneurs and companies, while flooding Western schools with Chinese students, plus the old-fahioned, Cold War dirty stuff. |
Posted by: JosephMendiola 2008-02-18 01:08 |