DislikedI can explain it simply:
You are Asia, I will be US.
I borrow $100 from you and the value of my dollar is equal to 100 of your currency so we are at parity.
I then increase the amount of my dollars in circulation by 100% thereby doubling the amount of dollars in circulation.
If your currency remains the same, I have now decreased value of what I owe you by 50% by now making $200 of my currency being equal to 100 of yours.
This is what is meant when you hear the talking heads speak of a race to the bottom in currency devaluation....Ignored
If $100 USD = $100 SGD, and you put in stimulus enough to double your currency. Effectively it now sits at $200 USD = $100 SGD. But you still owe $100 SGD, which means you now have to pay 2 times more money.
A 1 pip gain is better than a 1 pip loss.