Asian FX Focus

The report evaluates the impact of potential US-Iran geopolitical de-escalation on Asian currencies against a backdrop of persistent trade shocks and strong US data. Analysts favor RMB and TWD while viewing THB and SGD as potential funding currencies.

Key Takeaways

• 1.Near-term friction remains for some Asian currencies due to persistent oil prices, US data strength, and domestic political issues.
• 2.Preference for RMB and TWD; remain patient on KRW and MYR.
• 3.THB and SGD are identified as potential funding currencies due to low yields.

Table of Contents

• Asian FX Focus
• Currencies EM Asia
• Disclosures & Disclaimer
• Disclosure appendix
• Important disclosures
• Foreign exchange: Basis for financial analysis
• Definitions for currency trades on DFs and NDFs
• Distribution of currency trades
• Additional disclosures
• Production & distribution disclosures
• Disclaimer
• Global FX Research Team