The Singapore dollar is undervalued by 18% and the South Korean won by 12%.
Even the Singapore dollar sank to levels not seen for more than six years.
Already, the Thai baht, Korean won, Malaysian ringgit, Singapore dollar and Philippine peso are under downward pressure again.
We have still got positions in the Singapore dollar but remain cautious on the rest of the region.
Considering you have the Thai baht, the Malaysian ringgit and the Singapore dollar all under pressure, India is stable.
In the last three years the buck is down 40% against the euro and Australian dollar and down 10% relative to the Singapore dollar.
However, a yuan appreciation with a lower dollar might mean a spike in all other Asian currencies as well like the Singapore dollar.
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With rates in America at rock bottom, and the Singapore dollar set to strengthen against its American counterpart, interest rates in Singapore are extraordinarily low.
The Singapore dollar and the Russian rouble are managed by a range, instead of one-way direction, and so are also good candidates for QE play.
Singapore Airlines' net rose 5.4% in the third quarter from a year earlier, but it said high fuel costs and a strong Singapore dollar will pose challenges this year.
But thanks to consolidation and the devaluation of the Singapore dollar, the remaining companies - Jurong Shipyard and Hitachi Zosen (Singapore) - are in better shape to compete in the worldwide vessel repair and conversion market.
"The Singapore market has shown that it's becoming far more liquid, and people also like having an exposure to the Singapore dollar, " a currency that has been favored by investors who like the city-state's political and economic stability, Mr. Crockett said.
Though the Singapore dollar is close to its highest for seven years, some analysts expect the city-state's central bank to raise the ceiling on the currency's (unpublished) trading band soon, to counter the inflationary effects of high oil prices and a tight labour market.
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Exports from five South-East Asian countries, Indonesia, Malaysia, the Philippines, Singapore and Thailand, have actually fallen marginally in dollar terms since last August.
In addition, both Singapore and Hong Kong manage their exchange rates against the American dollar.
This year, it is called "Love at First Light, " and comes with a music video highlighting Singapore's newest attractions, like a new billion-dollar public park called Gardens by the Bay.
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The third and best option would be to switch the yuan's peg from the dollar to a basket of major currencies in an arrangement similar to Singapore's.
An example of a foreign bond play is the ten-year Singapore bond issued in July at 99.5 cents on the country's dollar.
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