- While the US dollar is likely to edge modestly higher in the near term on the back of the FOMC's hawkish June 17 hold, with favorable interest rate differentials, and US economic outperformance, the longer-term outlook remains bearish.
- India's rupee has recently hit record lows as the national Reserve Bank tightens FX restrictions and the Securities and Exchange Board of India (SEBI) pushes capital market reforms, still the currency sits roughly 11% undervalued versus its real effective exchange rate trend.
- Taiwan's central bank is actively managing its currency stability amid AI-driven equity inflows, while Indonesia faces a range of market pressures though fundamentals suggest it's no replay of the 1997-1998 crisis.
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