The Bank of America is not bullish no any currency in Asia, leading the investment bank to deem the start of a 'chaotic era' for these currencies.
Bank of America is bearish on a slew of Asian currencies and neutral at best on others, as the investment bank says it is the start of a "chaotic era."
The bank expects yuan depreciation pressures to sustain into the second half of the year, due to: the delayed Fed easing, China's disinflationary behavior aggravating yield gap with the U.S. and a weak financial account as a result of a deterioration in foreign direct investment.South Korean won The South Korean won recently slipped to an 18-month low of 1,389.5 against the dollar. The Bank of Korea chief called the won volatility "excessive" and said the central bank would intervene if needed.
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