Global Macro Service > Research Briefings > Asia Pacific

Asia stronger today than in 2013 ahead of Fed taper

Notwithstanding Covid-related risks, we expect Asian currencies will show resilience in the face of tighter US monetary policy, particularly when compared to the 2013 taper tantrum. Most economies are less reliant on external financing of their debt and current account balances; plus, they have significant foreign reserves they can draw on in the event of tighter external funding.

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