Benefiting from yuan revaluation
REAL-LIFE PROBLEMS, INNOVATIVE SOLUTIONS
Background: Although Asian currencies have already recovered well since their decline after the 1997 crisis, the trend is not over, especially given our expectation of continued economic out-performance from the region.
In recent weeks, amid signs that the local economy continues to recover, several Asian currencies have been pushing to highs not seen for some years. The Korean won (KRW) has even broken through the 1,000 level against the US dollar, last seen during the Asian crisis of 1997.
Toda
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