Morgan Stanley Sees 11% Won Drop as Euro Hammers Asian Exports
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ANZ says correlation between Asian currencies and euro rising
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Taiwan’s dollar to drop 9.4% by end 2016, Morgan Stanley says
When Morgan Stanley’s top currency strategist visited Asia last week he told clients their fixation with the U.S. Federal Reserve was causing them to overlook risks in Europe.
Asian currencies will weaken next year as declines in the euro, already at a seven-month low on bets the European Central Bank will step up monetary stimulus on Dec. 3, acts as a drag on the region’s export-driven economies, Hans Redeker, New York-based global head of foreign-exchange strategy, said in an interview in Singapore. Overseas shipments shrank in eight months this year in China, 10 months in South Korea and nine months in Taiwan. In the euro-area, September marked an eighth straight gain from year-earlier levels…
Morgan Stanley Sees 11% Won Drop as Euro Hammers Asian Exports
