Asian Currencies Face Deeper Bearish Bets
Bearish sentiment towards emerging Asian currencies deepened as investors contended with escalating Middle East tensions and rising US Treasury yields. Higher oil prices and a stronger dollar created a challenging environment for regional energy-importing economies.
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Bearish bets on emerging Asian currencies deepened during Thursday overnight trading as escalating Middle East tensions and rising United States Treasury yields drove demand for the dollar. Pipeline attacks in Saudi Arabia pushed Brent Crude Oil above $100 a barrel.
