Emerging Asian Currencies Finish Year on Strong Note as Vaccine-Hope Raises Outlook for Global Economy
“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...