Global investment banks are recommending buying Indian assets on optimism a leadership change at the central bank will be followed by a new government that businesses favor next year.
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.
South Korea’s won was set for its biggest monthly gain in almost two years after foreign funds pumped money into the nation’s stocks. Government bonds climbed.
The Philippine peso completed its first weekly decline this month on concern recent gains were excessive and as the risk of a potential U.S. government shutdown deterred investors. Bonds fell.
Credit Suisse Group AG cut its forecast for the euro, saying the Greek debt crisis has dented the 16-nation currency’s credibility as a safe alternative to the dollar for many investors.
South Korea’s won strengthened to near an eight-month high on speculation exporters are repatriating dollars to meet month-end cash needs. Government bonds declined.
Malaysia’s ringgit led a surge in Asian currencies, climbing the most since the 1998 regional financial crisis, after the Federal Reserve unexpectedly refrained from cutting monetary stimulus.
The yen may slide another 18 percent as the Bank of Japan’s efforts to expand the money supply spur domestic investors to shift assets overseas, according to Credit Suisse Group AG.
Malaysia’s ringgit rallied the most since 2010 and stocks rose to a record after Prime Minister Najib Razak won a clear majority in the election, giving him a mandate to continue his economic reforms.
Bank of Japan Governor Masaaki Shirakawa ’s success in weakening the yen may hinge on Ben S. Bernanke .
"The better monsoon and a slowing Indian economy will in aggregate help to moderate inflation over the next quarter or so."
- Ray Farris on Nov 07, 2013
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