Asia's Rich Urged to Buy Dollars as Singapore Fuels Easing Bets
- Won, Taiwan dollar, baht, peso to weaken, Credit Suisse says
- Buy greenback against Singapore dollar, yen, UBS says
BERLIN, GERMANY - FEBRUARY 15: Dollar bills standing on a table on February 15, 2016, in Berlin, Germany.
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Money managers for Asia’s wealthy families are telling clients to buy U.S. dollars as a rally this year in regional currencies begins to sputter.
Credit Suisse Group AG is advising its private-banking clients to bet the greenback will gain versus a basket of peers that includes the South Korean won, Taiwan dollar, Thai baht and Philippine peso. UBS Group AG said investors should buy the currency against the Singapore dollar and yen. Stamford Management Pte, which oversees about $250 million for Asia’s rich, urged clients to buy the U.S. dollar each time it falls below S$1.35.