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Currencies in EM Asia are tanking, with interest rate differentials moving hugely in favour of the dollar...
...But we doubt that central banks in the region will be forced to match Fed rate action like-for-like.
Reserves remain ample, and are likely to continue to be used to lean against excessive currency volatility.
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asian currencies, central banks, commodity prices, current account, current account surplus, deficit, fed, imports, inr, interest rate, March, May, rbi, trade, trade surplus, u.s., Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence