Asian Dollar Index Nears Major Support Line

Way back in January I wrote, The Party Starts When ADXY Falls Below 114. It bounced during the year, but is again approaching support and the weak yen is probably going to be the catalyst that finally breaks support and sets off currency devaluation in Asia. The ADXY is 36.9% CNY, 11.8% HKD, 11.6% KRW, 11.5% SGD, 9.2% INR.

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