New York Mellon Bank: Rising oil prices may put pressure on Asian currencies.

New York Mellon Bank said that, due to the rise in oil prices related to the Iran conflict, currencies in the Asia-Pacific region may face downward pressure, especially for net oil importing countries. Wee Khoon Chong, senior market strategist for the bank in the Asia-Pacific region, stated that the strengthening of the US dollar, along with the potential outflow of foreign capital, may also put pressure on regional currencies. The rising inflation pressure could further delay the potential easing policy path of the Federal Reserve. This, combined with safe-haven demand, may support the US dollar in the short term.