Posted 10/26/2023, 9:00:10 AM
Asian Currencies Hit by Rising US Yields and Strong Dollar, But Region Fundamentals Solid
- Malaysian ringgit has fallen 13% against US dollar since February, worst performing Asian currency besides yen
- India's current account deficit widening due to high oil prices could spur further sell-off
- Spike in US Treasury yields driving capital out of emerging Asian markets
- Asia's economic fundamentals stronger than a decade ago but still exposed due to low interest rates
- Blame for Asia's woes lies with stresses in US bond market, not the region's economies
