Mitsubishi UFJ: Some ASEAN currencies face new pressure amid changing interest rates in the United States.

Lloyd Chan of Mitsubishi UFJ Bank stated in a research report that with the dynamic changes in interest rates in the United States, some ASEAN currencies are facing new pressures. The senior foreign exchange analyst said, "The Fed's tightening policy stance and reduced forward guidance have strengthened the high-yield environment in the United States, maintaining the strength of the dollar through arbitrage-driven demand." Chan added, "As Fed Chair Warsh fades out of the dot plot, policy uncertainty has increased, which may push up term premiums and keep U.S. yields elevated in the short term." These ASEAN currencies include the Indonesian rupiah, Malaysian ringgit, Singapore dollar, and Thai baht. Mitsubishi UFJ Bank's forecast for the fourth quarter is 18,350 IDR, 4.2600 MYR, 1.3200 SGD, and 34.40 THB. According to data from the London Stock Exchange Group, the latest rates are 17,950 IDR, 4.1400 MYR, 1.2974 SGD, and 33.39 THB.