ASIAN CREDIT SELL‐OFF SPEAKS VOLUMES: SELL ASIAN FX
• Asian credit weakness depicts a shift driven by Fed expectations, now rippling through Asian FX.
• High‐vol capital account Asia will see worst initial impact; CA‐deficit countries will have longer‐term problems.
• INR hits a new record low, government likely to act to arrest fall.
• KRW weakness providing better levels to be long…eventually.
Read full report: FX Daily
Scotiabank