MNI BRIEF: BOC Sees Milder Reaction To Tariffs Than To Covid

BOC SAYS ITS RESPONSE TO A TARIFF WAR WON'T BE LIKE IN COVID

BOC: TRADE THREATS ALREADY BLURRING DOMESTIC ECONOMIC REBOUND

MNI INTERVIEW2 -Banxico Optimistic On Non-Core Inflation-Heath

MNI China Daily Summary: Friday, February 21

MNI BOK WATCH: Board To Ease Base Rate To 2.75%

MNI: BAKER HUGHES US RIG COUNT 592; OIL RIGS 488; GAS RIGS 99

BAKER HUGHES CANADA RIG COUNT 244; OIL RIGS 174; GAS RIGS 70

MNI: US NAR: JAN EXISTING HOME SALES 4.08M SAAR

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

ASIA FX: SEA FX Lose Ground Against the USD, Thai Officials Call For Rate Cuts

ASIA FX
BulletEM BulletAPACEmerging Market News

In SEA, USD/Asia pairs have gravitated higher in the first part of Tuesday trade. This is line with higher USD index levels against the majors. Yen is one of the weakest performers, off around 0.35%. US cash Tsy markets have re-opened after Monday's holiday and yields are firmer, supported by Fed speak from Governor Waller. The 10yr was last above 4.51%, up nearly 4bps from end Friday levels. 

  • PHP has lost nearly 0.40%, while IDR is down a little over 0.30% to be among the weakest performers. Both currencies have shown a good degree of correlation with US yield shifts over the past 12 months.
  • USD/PHP is back above 58.20, unable to sustain levels sub 58.00 from recent sessions. There may also be some speculation that BSP was supporting the pair underneath this figure level.
  • USD/IDR is back to 16270, so very much within recent ranges. USD/INR is higher, but has found selling interest ahead of 87.00, which could be intervention related.
  • USD/THB has ticked up last near 33.75/80. Onshore officials, including the PM have again called for fiscal and monetary policy to be working together, i.e. the BOT needs to cut rates.
  • USD/MYR is back closer to 4.4500, off around 0.30% in ringgit terms. 
204 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

In SEA, USD/Asia pairs have gravitated higher in the first part of Tuesday trade. This is line with higher USD index levels against the majors. Yen is one of the weakest performers, off around 0.35%. US cash Tsy markets have re-opened after Monday's holiday and yields are firmer, supported by Fed speak from Governor Waller. The 10yr was last above 4.51%, up nearly 4bps from end Friday levels. 

  • PHP has lost nearly 0.40%, while IDR is down a little over 0.30% to be among the weakest performers. Both currencies have shown a good degree of correlation with US yield shifts over the past 12 months.
  • USD/PHP is back above 58.20, unable to sustain levels sub 58.00 from recent sessions. There may also be some speculation that BSP was supporting the pair underneath this figure level.
  • USD/IDR is back to 16270, so very much within recent ranges. USD/INR is higher, but has found selling interest ahead of 87.00, which could be intervention related.
  • USD/THB has ticked up last near 33.75/80. Onshore officials, including the PM have again called for fiscal and monetary policy to be working together, i.e. the BOT needs to cut rates.
  • USD/MYR is back closer to 4.4500, off around 0.30% in ringgit terms.