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Hopes for China's economic reopening buoy Asian currencies

Positive signs draw money back to emerging markets, but uncertainty remains

Chinese tourists flocked to Asian destinations like Bali, Indonesia, during the Lunar New Year holiday.   © Reuters

TOKYO -- The end of China's zero-COVID policy is bolstering the currencies of many Asian countries on anticipation of renewed tourism and trade, alongside easing pressure from U.S. monetary policy.

The Thai baht appreciated as far as the lower 32 range against the dollar at one point Monday, its strongest since last March. The Singapore dollar is hovering in the low 1.30 range, reaching levels last seen in January 2018, while the South Korean won reached 1,215 to the dollar at one point Thursday for the first time since last April.

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