Malaysian Ringgit and Singapore Dollar Strengthening of Asian Currencies
Asian currencies have strengthened this morning, with the Malaysian ringgit and Singapore dollar are leading the courage. In the currency market speculation, if the Federal Reserve will again poured additional funds into the economic system after U.S. economic data released last week showed the economy slowing.
“The market believes the Fed should be poured back quantitative easing. Conditions were generally encouraging Asian currency markets. In addition, the U.S. and global economy still shows the trend of weakening. Meanwhile, in the medium term, Asia is still showing a positive signal,” explained Thomas Harr, head of Asian foreign-exchange strategy at Standard Chartered Plc in Singapore.
Note only, at 10:46 pm Kuala Lumpur time, the ringgit rose 0.4% to 2.9995 per dollar. Meanwhile, Singapore’s dollar rose 0.4% to S $ 1.2288 and the Thai baht rose 0.2%to 30.26.
While Asia Dollar Index rose to a position of 118.76, which is the highest level since May 11th.
Related posts:
- Greece bailout speculation make mighty euro to its highest level in a month The movement of the mighty euro to its highest level...
- Feel the True Asia Do you plan to travel to Asia in the upcoming...