Baht nears two-week high

Published: 6 Jun 2012 at 16.04
Online news: News

Thailand's baht advanced toward its strongest level in two weeks and government bonds fell after policy makers from the world's leading economies agreed to coordinate their response to Europe's financial crisis.

The Bloomberg-JPMorgan Asia Dollar Index climbed the most in eight weeks and the MSCI Asia-Pacific Index of shares rose after Japanese Finance Minister Jun Azumi said on Tuesday that officials from the Group of Seven nations will work together to help put the public finances of Spain and Greece on a sustainable footing.

"Coordinated support will help stabilise the situation in Europe," said Hideki Hayashi, a researcher at the Japan Centre for Economic Research in Tokyo. "That is leading to better sentiment in emerging-market stocks and currencies. However, this will be only temporary as the debt problem still persists."

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yik
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Discussion 2 : 06 Jun 2012 at 22.252
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'Will we see another Asian currency crisis in the near future?' EU still deep in the woods, US mid-west ... "will we", I guess better ask 'when'.
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samutwah
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Discussion 1 : 06 Jun 2012 at 19.291
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Very good for importers, not so good for exporters and very bad for tourists ;)
Oh the joys of international economics... Will we see another Asian currency crisis in the near future?
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Baht nears two-week high | Bangkok Post: business