Goldman Sees Emerging-Asia Currencies Coming Under More Pressure
- Peso, rupee and rupiah may face pressure versus dollar
- FX pressure may pose upside risk to bank’s USD-cross forecasts
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High-yielding emerging-Asia currencies may continue to reel amid deteriorating external finances and risk-off sentiment spurred by Federal Reserve tightening, according to strategists at Goldman Sachs Group Inc.
“Along with the broader emerging market currency complex, high-yielding currencies like the Philippine peso, Indian rupee and Indonesian rupiah have been under pressure in June,” strategists including Zach Pandl and Danny Suwanapruti wrote in a research note. “In coming weeks, we expect this pressure to continue versus the dollar, in some cases potentially posing upside risks to our dollar-cross forecasts.”