archive[USD/CNY

The US dollar continues its downward slide, and in turn, currencies in Asia have surged to near a seven-month high. There are at least two reasons for the dollar's descent.First, the likelihood of US President reaching trade deals with multiple countries he's imposed tariffs on has raised the risk appetite in the market for other currencies considered less safe than the greenback. At the same time, the slump in the US economy has increased the odds of interest rate cuts by the US Fed. Will these trends continue? If yes,...

“A smooth vaccine rollout can be a game-changer,” said Christopher Wong, a senior foreign exchange strategist at Maybank. “Global economy could be closer to a more sustainable recovery trajectory amid unprecedented fiscal and monetary support.” China’s outperformance also helped regional units, with the Taiwanese Dollar firming about 7% in 2021. Investors have lauded the island’s handling of the pandemic, while a global shift to working remotely boosted demand for its tech products. Emerging Asia’s currencies stand to benefit from a recovery in economic growth in 2021, with the trade-linked Taiwan...