Options traders are the least bearish
on Asian currencies versus the dollar in a year as confidence
builds that China will avoid a so-called hard landing, helping
lure funds as Europe’s debt crisis deepens. SEE MORE East Asian nations announced Thursday they have doubled the money in a
regional currency swap pact to $240 billion in an effort to shield
themselves from the European debt crisis. SEE MORE Financial crisis in Europe could escalate and along with slow
recovery in the US, this year will be crucial for global economy but
Asian nations must continue long term structural reforms while
insulating the region against the troubles, ADB said. SEE MORE America's economic
imbalance with China has been a singular concern of policymakers for
more than half a decade. Sens. Charles E. Schumer and Lindsey Graham
wanted to punish China for pegging the exchange rate to the dollar in
2005 - arguing that its policy of cheapening the currency to subsidize
exports was fueling a huge trade surplus that cost US jobs. SEE MORE Plastics exports to Cambodia earned 20 million USD in the first quarter of this year, reported the Vietnam Plastic Association. SEE MORE