FW: [Maybank] (RESEND) 2018, Issue 5: Watchful of Fed, Italy and EM Vulnerabilities

 

 

(RESEND) 2018, Issue 5: Watchful of Fed, Italy and EM Vulnerabilities FX Monthly by Saktiandi Supaat FX Research We lowered the forecasts for EUR, GBP, CNY, INR, SGD, MYR and PHP and KRW; raised forecast for JPY, in light of recent development including political situation in Italy, recent EM sell-off, lack of progress with EU-UK negotiations and renewed fears of trade wars between US and China. In particular, we see yuan recovery against the USD to lag that of other major trading partners as China claws back its currency competitiveness to buffer against external demand amid the trade dispute vs. the US. Saktiandi Supaat     (65) 6320 1379     saktiandi@maybank.com.sg Christopher Wong     (65) 6320 1347     wongkl@maybank.com.sg Disclaimer This message is intended only for the use of the person to whom it is expressly addressed and may contain information that is confidential and legally privileged. If you are not the intended recipient, you are hereby notified that any use, reliance on, reference to, review, disclosure or copying of the message and the information it contains for any purpose is prohibited. If you have received this message in error, please notify the sender by return e-mail immediately and delete all its contents. If you wish to read Disclaimer in details, please click HERE. To unsubscribe or change preference settings, please click here to contact your representative.