2013年货币走势会是如何？星展集团研究部高级货币策略师黄鲳诚认为，美元和日圆将会走软，欧元会从趋稳逐渐走强，人民币、除日本外的亚洲货币，以及大宗商品关联货币将更强劲。整体下来，这将为日圆套利交易埋下伏笔。 

In 2013, the currency movements will be how?DBS group research senior currency strategist yellow butterfish honesty think,The dollar and yen will go soft,The euro from stabilised stronger gradually,RMB/In addition to the Japanese Asian currencies,And commodities association currency will be more strong.Whole down,This will be for the yen carry trade buried foreshadowing. 

　　黄鲳诚指出，在经历颇为动荡的一年后，G20很可能会重新聚焦于促进经济复苏。明年，当世界最大的两个经济体（中国和美国）的新领导班子正式就职后，相信两国将携手促进G20的可持续复苏，以解决全球失衡的问题。 

Yellow butterfish honesty pointed out that,After rather unrest after a year,G20 is likely to focus on promoting economic recovery.Next year,When the world's two largest economies(China and the United States)New leadership after formal inauguration,Believe that the two sides will promote the G20 to sustainable recovery,In order to solve the problem of global imbalances. 

　　为达成这个目的，美联储已于9月13日公布了“无限期”第三轮量化宽松政策（QE3），誓将维持低利率至2015年年中。即将于2013年开展的财政整顿过程，其中的美国政策组合旨在通过支持企业和消费者来刺激内需，同时推动更多出口。 

To reach this goal,The fed has on September 13, released"indefinitely"The third round of quantitative easing policy(QE3),Oath will keep interest rates low to the middle of 2015.In 2013 to carry out financial reorganization process,One of the American policy combination aims to support the enterprise and the consumer to stimulate domestic demand,At the same time promote more export. 

　　同时，黄鲳诚认为，随着新领导班子将中国金鸡从以投资为导向转型为以内需为导向，中国货币政策的重点又改为以控制通货膨胀为重心。但他也指出，亚洲最大的两个经济体（中国和日本）追逐的政策是相反的。正当中国努力让人民币往资本项目可兑换发展，日本却通过“无限量”货币宽松和大笔公共消费来让日圆贬值。中国的货币政策已无法参照日圆，而国际货币基金组织已开始推广澳元和加元作为优秀国际货币的楷模。 

At the same time,Yellow butterfish honesty think,With the new leadership will China golden from investment as a guide for the transformation of domestic demand as the guide,The focus of China's monetary policy and instead to control inflation for center of gravity.But he also pointed out that,Asia's two largest economies(China and Japan)Chase policy is opposite.As China's efforts to let the yuan convertible under capital accounts development,Japan is through the"An unlimited"Currency loose and large public spending to make the Japanese yen.China's monetary policy has not referring to the yen,And the international monetary fund has started to promote the Australian and Canadian dollar as outstanding international monetary model. 

　　同时，黄鲳诚表示，2013年世界经济增长应该与今年差不多，但是贸易会开始周期性复苏。因此，我们预期以出口为导向的亚洲新兴经济体（香港，台湾，韩国及新加坡)将取得更强劲增长，缩小与内需为导向的东南亚国家的增长差距。至于较弱的亚洲货币如印度卢比和印度尼西亚盾，周期性复苏将有助于其趋稳。 

At the same time,Yellow butterfish honesty said,The 2013 world economic growth should be about this year,But trade began to cyclical recovery.so,We expect to export oriented Asian emerging economies(Hong Kong,Taiwan,South Korea and Singapore)Will make a strong growth,To narrow the gap between domestic demand as the guide of the southeast Asian countries growth gap.As for the weaker Asian currencies such as the rupee and Indonesia shield,Cyclical recovery will help the stabilised. 

　　整体而言，全球货币在2013年的表现相信要比2012年要更乐观。

overall,Global currency in 2013 than 2012 performance believe to be more optimistic.