USD demand continues in Asia, tracking the rise in 10Y UST yields. That said USD strength was uneven: more felt against higher beta currencies (NZD, KRW) and less against oil-linked currencies (CAD, MYR). This was due

GBL: Global Markets Daily

FX Research by Saktiandi Supaat

USD Continues to March On

USD demand continues in Asia, tracking the rise in 10Y UST yields. That said USD strength was uneven: more felt against higher beta currencies (NZD, KRW) and less against oil-linked currencies (CAD, MYR). This was due to a higher oil prices on optimism of oil production cut. While we expect risk sentiment to remain cautiously supported on oil optimism and favor oil-linked currencies (MYR, CAD), we are looking for USD strength against other currencies, in particular the JPY, SGD, THB and NZD.

Saktiandi Supaat    (65) 6320 1379    saktiandi@maybank.com.sg Christopher Wong    (65) 6320 1347    wongkl@maybank.com.sg