Forex Signals – Thai Baht is Asia’s Top Outperformer (Bloomberg) — After lagging other Asian currencies for most of the year, Thailand’s baht has staged a sharp rebound to outperform its peers.
The baht has rallied almost 1.5% in May after dropping over 7% in the first four months of 2020. The catalyst? Traders are betting Thailand’s tourism-dependent economy will recover swiftly from the virus-induced slump as economies begin to reopen.
Analysts say a relaxation of curbs will boost confidence. Thailand has allowed shopping malls to resume business as part of a phased rollback of its lockdown, even as it remains in a state of emergency through May Forex Signals – Thai Baht is Asia’s Top Outperformer.
“Thailand has done well to contain the coronavirus outbreak, with the country gradually reopening businesses and easing restrictions,” says Chang Wei Liang, a macro strategist at DBS Bank Ltd. in Singapore. “This has given investors confidence that tourism could recover over time, in turn supporting the baht.”
(Bloomberg) — Australia’s sovereign bond market is re-emerging as an attractive proposition for Japan’s yield-hungry investors.“We view Australian sovereign bonds quite constructively and have started buying, including at last week’s sale,” said Akira Takei, a Tokyo-based global fixed-income money manager at Asset Management One Co. “Australia’s yield curve is outstandingly steep among developed nations, which makes the bonds attractive.” So learn more about Forex Signals.
With Australia’s 10-year yield edging back up toward 1%, Japanese money flowing into the securities looks set to increase.
Check out our Free Forex Signals Telegram Channel
About The Author: Forex Signals
Telegram Forex Signals FX including Opening Forex Accounts. Subscribe now for major pairs Forex Trading Signals Today by FxPremiere Telegram Forex Signals FX
More posts by Forex Signals