New Deutsche indexes map currency correlation in Asia
The DB Asia Convergence Indexes simulate a market-neutral strategy that exploits what the bank believes is an increase in correlation between Asian currencies in up to 12 markets. This trend towards an 'Asian monetary union' (AMU) is a result of the widespread use of trade-weighted currency baskets in the region, which Asian central banks appear to use to protect export competitiveness, said Deutsche Bank.
Martin Hohensee, Asia head of fixed income and credit research in Singapore, said: "The
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