Asian Currencies Face Headwinds from Rising U.S. Treasury Yields, Oil Prices
Dow Jones12:19
0419 GMT - Asian currencies face headwinds from rising U.S. Treasury yields and oil prices, MUFG Bank's Lloyd Chan says in a research report. "Rising oil prices worsen the terms of trade for net energy importers such as Thailand, the Philippines, India, and Korea, while simultaneously boosting inflation expectations," the senior currency analyst says. Since the Jackson Hole economic policy symposium last Friday, Treasury yields have surged across the curve, Chan notes. Also, Brent crude oil price jumped 4.6% Tuesday to nearly $95 per barrel after renewed strikes between the U.S. and Iran, Chan adds. The dollar edges 0.1% higher to 33.32 baht and rises 0.3% to 62.609 pesos, LSEG data show.
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