No reprieve for Asian currencies as Fed’s rate hikes continue, EIU says

From cnbc.com

Asian currencies will likely continue weakening for another quarter — if not more, as U.S. interest rates rise, the Economist Intelligence Unit said. The EIU said it expects further interest rate hikes by the Federal Reserve in November and December, although “the risk is rising that rate increases will occur at a faster pace than we currently anticipate.”The contrast between the Fed’s tightening and the monetary easing in some Asian economies, such as Japan and China, means the U.S. dollar would be more buoyant and there will be more downward pressure on Asian currencies. “As the Federal Reserve signals a ... (full story)