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FXstreet.com (Barcelona) - Appetite for Asian currencies remains strong and the European Central Bank President Draghi's "positive contagion" comments, good Chinese trade data and the Bank of Japan set to materially expand their balance sheet further have all contributed to a risk-on start for the year. MYR has been the strongest performing Asian currency so far this year and has already hit our year-end target of 3.02.

Moreover, "
We are conscious that currencies don't move in nice straight lines, and periods of correction and consolidation will occur. There are still some key event risks to get through, such as the negotiations over the US debt ceiling." writes Senior FX Strategist Khoon Goh at ANZ.

Twice before we have been encouraged by positive US growth momentum at the start of the year, only for it to falter. And while this year looks like it will be the first year in the post-financial period where we do not face a crisis in Europe, one can never be too certain.

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