Now that the U.S., Europe and Japan have embarked on large scale quantitative easing, emerging market currencies are bound to appreciate.

FORBES: El Ben Bernanke And The Mexican Peso

Smith also pointed to ongoing worries that the Federal Reserve will be looking to scale back its quantitative-easing efforts in the months ahead.

FORBES: FOCUS: Gold's Tumble Continues; Bargain Hunting Seen Once Prices Stabilize