Long-term Middle East conflict poses dual pressure risks to Asian currencies

2026-03-30 02:34:56

According to Mars Finance, citing Jinshi reports, Lloyd Chan from MUFG Bank stated in a research report that the conflict in the Middle East may become prolonged, and risk-averse sentiment alongside high energy prices will push up inflation in the United States, leading to sustained high U.S. interest rates, thus supporting the dollar. Chan pointed out that Asian currencies such as the Indian rupee, Philippine peso, South Korean won, and Thai baht face significant risks, as these countries rely on imported energy and are sensitive to high oil prices. Data shows that the dollar rose 0.5% against the Philippine peso to 60.763, having earlier reached an intraday record high of 60.776.

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