India, Malaysia, Taiwan and South Korea are all easing their grip on currencies as the US dollar tumbles – to avoid a Trumpian backlash?
Some of emerging Asia’s biggest central banks look to be dialling back their interventions in the currency market.
“The threat of being labelled a currency manipulator by the US, especially during this period of tariff negotiations, will act as a deterrent to further heavy FX intervention in local markets,” said Rajeev De Mello, a Geneva-based portfolio manager at GAMA Asset Management.
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