Huw Mckay News
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South Korea’s won will weaken 1.7 percent by year-end, following its best quarter in two years, as gains arising from global monetary easing fade and slower growth crimps exports, the most accurate forecasters say.
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The most-accurate forecasters for the yuan predict the currency will retreat from a 19-year high this quarter as China prevents gains that may hurt exports.
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India’s rupee and Malaysia’s ringgit will lead declines in Asian currencies this quarter as the global slowdown damps export demand, according to Oversea- Chinese Banking Corp., the most-accurate forecaster.
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Chinese industrial companies’ profits climbed 55 percent in the first eight months of 2010 from a year earlier, bolstering investment as the government pares back stimulus.
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South Korea’s won will post its worst quarter in a year as Europe’s financial crisis saps demand for exports, according to Credit Suisse Group AG, the top forecaster.
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Japan’s first intervention in the foreign-exchange market in almost six years may undermine calls for China to let its currency appreciate.
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Indonesia’s rupiah and South Korea’s won will lead Asian currency gains for the rest of 2011 as central banks use appreciation to counter inflation, says Credit Suisse Group AG, the region’s most-accurate forecaster.
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Japan’s economy grew less than forecast in the first quarter as an export-led recovery failed to stoke consumer spending, putting pressure on the central bank to do more to end deflation as it begins a two-day meeting.
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Global financial turmoil threatening the U.S. and European economies turned the Reserve Bank of Australia against an interest-rate increase, minutes of its Aug. 2 meeting showed.
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Asian currencies will extend their biggest slide in three years through December before rebounding in early 2012 as export demand picks up, said Standard Chartered Plc, the most-accurate forecaster for the region.
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