That's a 5.8% rise from 40.5 in 2½ months. I'm becoming optimistic that this may last. (The Thai Baht is turning around a bit too, having hit a low of 29.5, and recently getting as high as 32.5, but off a bit today.) Also, this is almost strictly a Southeast Asian currency decline... not a dollar recovery: Vis-à-vis the pound, euro, yen, and Chinese yuan the dollar has moved only slightly if at all.
As best as I can tell, only one primary Asian currency is currently losing ground against the dollar in a fashion similar to the secondary Asian currencies of the Baht and Piso (as well as the Malaysian Ringgit, the Vietnamese Dong, and the Indian Rupee), and that is the Korean Won.
So my guess is that whatever is going on with these certain secondary Asian currencies lately, it would be reasonable to guess that it is reflective of whatever is going on in Korea with their currency.
2 comments:
The pending election in the usa may help the dollar; as it seems the us media is ignoring the war in Iraq and now the economy is their pet of the year.
I also believe that election optimism may help the dollar. It's one of the reasons I'm upbeat about Obama. I know it rankles some Americans to hear that Muslims and Africans and far-left pseudo-political groups are all excited about an Obama presidency... not to mention pretty much every other non-American on the planet... but I think that there is a helluva correlation between the world feeling good about the American President (unlike the way they feel about President Bush) and the way the world feels about America in general, and the way the American economy performs.
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