China’s yuan tumbled the most in more than three years on speculation the central bank wants an end to the currency’s steady appreciation to ward off speculators before a possible widening of the trading band.
China’s yuan is set to pull out of its steepest slide since 2011 in offshore trading as the nation’s $3.8 trillion of foreign reserves coupled with inflows from trade and investment deter bets on further losses.
South Korea’s won may strengthen 4.8 percent against the yen over the next two months, according to Mitsubishi UFJ Morgan Stanley Securities Co., citing a technical indicator known as the Bollinger band.
South Korea’s won may decline 6 percent to the lowest level since July in one to two weeks after the currency dropped beyond its 200-day moving average against the dollar, according to Mitsubishi UFJ Securities Co.
The Philippine peso is set to rebound from a three-month low as remittances from 10 million overseas workers in the run-up to Christmas offset some of the damage done by one of the nation’s deadliest storms ever.
The Philippine peso may weaken to a seven-month low against the yen as a technical gauge signaled volatility in the Southeast Asian currency will increase, according to Mitsubishi UFJ Morgan Stanley Securities Co.
The Thai baht may strengthen 0.8 percent against the dollar in a month, taking it to a two-year high, after a technical indicator known as the Parabolic System pointed to a buy signal for the currency, according to Mitsubishi UFJ Morgan Stanley Securities Co.