Excerpt from: Forex Analysis
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| June 04, 2008 | | Philippine peso leads Asian currencies lower | Forex trading strategy should consider that emerging Asian currencies are struggling this morning. On the news that Ben Bernanke is talking about an end to interest rate cuts in the US, Asian currencies have been moving lower.
This decline by emerging Asian currencies is being led by the Philippine peso, reports Bloomberg:
``Additional spending to spur growth and contain inflation
will cause fiscal slippages and that is worrying investors,''
said Ricky Cebrero, a treasurer at East West Banking Corp. in
Manila. ``Everybody is getting out of the local currency.'' | Topic Tags: Ben Bernanke, emerging Asian currencies, forex strategy currencies, forex trading, forex trading Asian currencies, forex trading strategy, interest rate cuts, Philippine peso | |
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