EFTA Document EFTA01451187

9 January 2014 FX Blueprint: Thin end of the wedge Theme #8: Balti not faulty, China yet finer 2013 saw Asian FX fracture into a North and South complex. Relative sensitivity to the yen, the EM debt bubble, and the developed world equity/growth cycle all served to discriminate the two intra-regional groups at different points during the year. Ultimately, the North emerged fairly unscathed, while the South cheapened significantly. Indeed, much of South Asia FX still faces a host of chal