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Asset managersโ short positions on the Australian dollar surged to a record high in the week ended Oct. 20, as mounting Middle East tensions and jitters over the artificial intelligence trade spurred a retreat from the risk-sensitive currency.
The yen is becoming a more effective hedge against an artificial intelligence-driven market shock as changes in Japanโs policy backdrop reduce the risk of the currency weakening sharply when global yields rise, according to Goldman Sachs.
Thailandโs baht may be nearing a turning point after a bruising eight months, with analysts seeing scope for a rebound as foreign money returns to the nationโs bonds and an improving current account supports the currency.
Uganda's shilling touched about 4,500 to the US dollar on Friday 23 October, its weakest in 33 years, as a top Treasury official opposed spending reserves. The post Uganda Shilling Hits 33-Year Low on 23 Oct appeared first on The Rio Times.