Essential Asia: Conviction Tested

A macro strategist’s view on Asian economies and markets


  • Our conviction towards gradual CNY appreciation is being tested. We acknowledge the near term risks and revise our USD/CNY forecasts.
  • Central banks are leaning toward more accommodative policy stances with the RBI and MAS adopting intermeeting cuts.
  • We revise our USD/Asian FX forecasts higher after reassessing the FX environment post-SNB and RBA shocks and in view of potential revisions to G10 forecasts.

For full analysis, download report: Essential Asia: Conviction Tested:  February 2015 (PDF, 1.4MB)