# Much ado about currency wars, says Daiwa’s Basu

> Daiwa Capital Markets' Asia chief economist PK Basu says fears of a currency war are overdone and that Asian currencies should appreciate, with China most in need. He cites Malaysia and Thailand as having already appreciated around 10% against the dollar, and the renminbi as having risen about 2.5% in the past month.

- Date: 2026-11-02 · published 2026-11-02T00:09:22.100Z
- Category: macro · region Asia · magnitude low
- Page: https://feedsoft.ai/events/74327-much-ado-about-currency-wars-says-daiwa-s-basu
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Stronger Asian currencies would make dollar-priced vegetable oil and feed imports cheaper for regional buyers, but the comments are opinion and do not indicate a firm price move.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2018-10-26 | [China says it will do battle with speculators betting against its currency](https://feedsoft.ai/events/62768-china-says-it-will-do-battle-with-speculators-betting-against-its-currency.md) | -0.4% | -0.1% |
| USDCNY | 2017-10-04 | [China’s currency balancing act \| ANZ](https://feedsoft.ai/events/68680-china-s-currency-balancing-act-anz.md) | -1.0% | -0.8% |
| USDCNY | 2017-06-01 | [China crushes yuan bears, snubs Moody's as currency takes off](https://feedsoft.ai/events/8835-china-crushes-yuan-bears-snubs-moody-s-as-currency-takes-off.md) | -0.2% | -0.2% |
| USDCNY | 2019-04-30 | [China is letting its currency decline in a 'snub' to Trump, ING says](https://feedsoft.ai/events/59802-china-is-letting-its-currency-decline-in-a-snub-to-trump-ing-says.md) | +0.4% | +2.6% |
| USDCNY | 2019-06-11 | [Why ‘cracking seven’ is a big deal for China’s currency](https://feedsoft.ai/events/58820-why-cracking-seven-is-a-big-deal-for-china-s-currency.md) | -0.1% | -0.6% |

## Sources

- theedgemalaysia.com: https://theedgemalaysia.com/article/much-ado-about-currency-wars-says-daiwa%E2%80%99s-basu

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.