The continued delay in resuming rate hikes by the US Fed combined with the BOJ underwhelming expectations with their limited moves gave a leg up to Asian currencies last week.

GBL: FX Asia Fortnightly

FX Research by Saktiandi Supaat

AxJ Gains To Slow

The continued delay in resuming rate hikes by the US Fed combined with the BOJ underwhelming expectations with their limited moves gave a leg up to Asian currencies last week. This has resulted in some of these currencies either nearing their 2016 highs (like the KRW, IDR, and TWD) or surpassing them (like the THB). This suggests that the pace of increase of some of these Asian currencies could moderate in the two weeks ahead.