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Fed easing helps Asian currencies: Maybank
by hlk Wed 01 Aug 2012, 18:01
KUALA LUMPUR: Any improvement in risk appetite resulting
from the modest easing in the US' monetary policy with a likely lower interest rate and more aggressive moves by the European Central Bank will present a welcome opportunity for Asian currencies.
Maybank Kim Eng in a note today, said favourable moves to rise traders' buying mood by the US and Europe to tackle their economic crisis would give a good chance to reverse the depreciation of Asian currencies and allow external liquidity to boost asset markets.
It said Asia's foreign reserves stood at US$5.27 trillion as at end-June this year which was lower than they were in August last year at US$5.37 trillion, meaning Asia has no real challenge of excessive capital inflows.
"Except for the Philippines, its foreign reserves were up 10.3 per cent year-on-year, and the central bank cut rates last week to fend off additional capital inflows." -- BERNAMA
from the modest easing in the US' monetary policy with a likely lower interest rate and more aggressive moves by the European Central Bank will present a welcome opportunity for Asian currencies.
Maybank Kim Eng in a note today, said favourable moves to rise traders' buying mood by the US and Europe to tackle their economic crisis would give a good chance to reverse the depreciation of Asian currencies and allow external liquidity to boost asset markets.
It said Asia's foreign reserves stood at US$5.27 trillion as at end-June this year which was lower than they were in August last year at US$5.37 trillion, meaning Asia has no real challenge of excessive capital inflows.
"Except for the Philippines, its foreign reserves were up 10.3 per cent year-on-year, and the central bank cut rates last week to fend off additional capital inflows." -- BERNAMA
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