Pimco Says Yuan, Won Offer Value on Rate Prospects

(Bloomberg) -- Pacific Investment Management Co., manager of the world’s biggest bond fund, said China’s yuan, South Korea’s won and the Singapore dollar offer “attractive value” because central banks need to counter inflation. The case for maintaining low interest rates in Asia is weakening and there is room for exchange-rate appreciation, Chia-Liang Lian, a Singapore-based fund manager at Pimco, wrote in a report published on its Web site today. Pimco, which has more than $940 billion of managed assets, owns forward contracts in the three currencies, he said in a separate a phone interview, declining to provide forecasts.

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