Collosal influence: China’s slowdown is hurting Asian nations with strong trade linkages to the world’s second biggest economy, and the Aug 11 devaluation of the yuan clouded the outlook for a currency that had been source of stability in Asia during past crises. — Reuters
All 10 major Asian currencies are forecast by strategists to fall against the dollar for a third year. They blame China.
Indonesia’s rupiah, South Korea’s won and the Singapore dollar are projected to decline the most in 2016, with India’s rupee seen depreciating the least. While the US. Federal Reserve on Wednesday indicated four interest-rate increases next year, Taiwan cut on Thursday and economists are forecasting reductions in China, South Korea, Thailand, India and Indonesia to spur growth.
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