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The Asian currency reached a multi-year high in 2020; what will happen in 2021? (Includes information on some SGX foreign exchange futures contracts)
In 2020, the low valuations and high yields of some Asian markets, along with signs of recovery in most economies, attracted numerous investors to Asia. The influx of funds into stocks and bonds also led to significant changes in the foreign exchange market, with Asian currencies rising to multi-year highs. What shifts can we expect in the Asian foreign exchange market in 2021?