Sat, Oct 15, 2011 - Page 11 News List

NT dollar, won to reverse up next year, analyst says

RALLY:The NT dollar is expected to weaken 1.6 percent this quarter before rising 5.8 percent in the first quarter, Standard Chartered’s Asian currency strategy head said

Bloomberg

“Asian currencies excluding China will struggle to gain ground in the current environment with global growth slowing, rate hikes off the agenda and rate cuts looking increasingly likely,” said Huw McKay, a senior international economist at Westpac in Sydney.

The won, the Malaysian ringgit and the Indian rupee will drop 0.5 percent against the US dollar in the six months ending March 31 to 1,184, 3.21 and 49.21 respectively, according to estimates from Australia’s second-biggest lender.

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