The following coverage is from OCBC Bank Investment Seminar conducted on 9 July 2013.OCBC Bank

remains bullish on the U.S. dollar as the Fed prepares to start cutting back asset purchases in response to the growing strength of the economy.However, the Fed’s more hawkish stance, coupled with concern about China’s sagging growth, has dimmed the outlook for certain emerging markets and commodity currencies.

Emerging market currencies with large current account deficits, such as India and South Africa, may
continue to struggle, but we’re more positive on other emerging markets with surpluses, for instance
Singapore and Malaysia.

The end to monetary stimulus in the U.S., along with the seeming lack of inflationary pressure, has
prompted further lowering of price forecasts for gold and silver.

U.S. Stock Market
The U.S. stock market outlook remains upbeat over the medium term, with greater policy clarity and …