More regional differentiation in 2007, says Société Générale CIBM
CURRENCY FORECASTS
Hughes said relative economic data and the continued removal of monetary policy accommodation will lead to a greater divide between regional currencies in 2007. This will be manifested in the form of a stronger yen and increased pace of appreciation in the Chinese renminbi.
Hughes said there are two reasons why aggregate data from Japan appears poor compared with expectations. "First, economists tend to over-egg the data, so they expect it to rise a lot more than it actually does. Second, if you
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