Merchants ought to pull their cash out from the US greenback, one of many safe-haven foreign money, and contemplate investing them in Asia-Pacific rising market currencies, Christopher Wooden stated in Jefferies’ Greed and Worry report. The greenback index has slumped to 96.99, the bottom degree since March 1, 2022 on Thursday.
The Jefferies Greed & Worry report suggested traders to personal Asia-Pacific-EM currencies with long-term view. It has additionally suggested to purchase long-dated five-year name choices on a revaluation of the Hong Kong greenback in opposition to the US greenback.
Hong Kong greenback is given as a selection by Greed & Worry Report as Wooden’s latest go to to Hong Kong urged that the residential property market is within the strategy of bottoming. This chance is mirrored within the 37% rise in Solar Hung Kai Properties’ share value since bottoming in early April. There’s a 4% weighting in Solar Hung Kai within the China long-only, the report stated.