HSBC Raises Dollar Forecasts for Most Asian Currencies Amid High Oil Price Expectations Through Q3

HSBC1.99%

According to Bloomberg, HSBC raised its year-end dollar forecasts against most Asian currencies, citing expectations of elevated oil prices during the second and third quarters. External strategists cited potential prolonged stalemate on Iran negotiations and rising downside risks to economic growth as additional pressures on cyclical Asian currencies. However, the Chinese yuan, Malaysian ringgit, Singapore dollar, and New Taiwan dollar are expected to remain more resilient due to distinct supporting factors.

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