BoA Merrill raises spectre of long-term US dollar depreciation
The bank expects Asian currencies to see moderate appreciation against the dollar in 2011, but concerns over the sustainability of the US fiscal position could mean dollar depreciation down the line.
Asian currencies are close to fair value and likely to see only moderate appreciation against the US dollar next year, believes Bank of America-Merrill Lynch, although there is an increased risk of dollar depreciation further down the line.
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