Mitul Kotecha, senior emerging markets strategist at TD Securities, notes that CNY has weakened by close to 7.5% since mid-April, dragging down most Asian currencies amid tariffs intensification and weaker growth. Key Quotes “Asian FX sensitivity to CNY increased from late last year, revealing that CNY gyrations are having a bigger impact on Asian FX.” “We examine the impact on Asian FX of a hypothetical move in USDCNY to 7.50 by calculating their beta predicted moves.” “The biggest casualties in Asia would be KRW, INR and TWD, where a further 3.8%, 3.3% and 1.9%, depreciation respectively versus USD would be likely. Other Asian currencies would also fall but to lesser degrees.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD technical analysis: Eases back below mid-1.2100s on softer UK services PMI FX Street 4 years Mitul Kotecha, senior emerging markets strategist at TD Securities, notes that CNY has weakened by close to 7.5% since mid-April, dragging down most Asian currencies amid tariffs intensification and weaker growth. Key Quotes "Asian FX sensitivity to CNY increased from late last year, revealing that CNY gyrations are having a bigger impact on Asian FX." "We examine the impact on Asian FX of a hypothetical move in USDCNY to 7.50 by calculating their beta predicted moves." "The biggest casualties in Asia would be KRW, INR and TWD, where a further 3.8%, 3.3% and 1.9%, depreciation respectively versus USD would be… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
