Asian currencies to stay steady in coming months - Reuters poll

The latest Reuters poll 50 forex strategists revealed that the bullish momentum seen in the Asian currencies against the American dollar appears to have stalled, as the Fed remains committed to hike rates this year.

Key Findings:

“The regional currencies are forecast to broadly hold their ground

The Thai baht - among the best performers in Asia - has gained nearly 7 percent against the dollar while the Chinese yuan, Indian rupee, Korean won, Malaysian ringgit, Singapore dollar and Taiwan dollar have all appreciated over 4 percent.

In contrast, the dollar index .DXY, which measures the greenback against a basket of six currencies, has lost about 8 percent so far this year.

China’s yuan is forecast to hover around current levels of 6.64 per dollar in six months and depreciate slightly to 6.70 in a year, the poll showed.’