Seeking emerging currency bargains, investors take fresh look at Asia
After years of coming second to popular Latin American carry trades, Asian currencies are finding their cheapness has become an asset as traders seek to capitalize on the dollar’s eroding premium status.Currencies like South Korea’s won, the Indonesian rupiah, and the Indian rupee rank among the most undervalued in emerging markets relative to their historic average, according to data compiled by Bloomberg. Beyond attractive valuations, fresh economic stimulus in China and signs of progress in U.S.-Asia trade negotiations are adding to the region’s allure.The potential for Asian currencies to strengthen...