The IMF’s deputy MD, John Lipsky, says that Asia looks like it will emerge from the downturn sooner and stronger than the rest of the global economy. Good news for the commodity currencies which are crawling theor way higher after a sharp setback this morning.
Lipsky says continue international cooperation is still needed and that stimulus should stay in place until a durable recovery is in place. He wars tightening of monetary policy in “many” Asian nations would be premature.
AUD/USD is back up to 0.9220; offers lie in the 0.9240 area on rebounds.
