Asian FX: Scope for selective recovery on softer USD – OCBC

FXStreetJun 30, 2026 11:27 PM

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OCBC’s Christopher Wong suggests Asian FX may find a breather if USD momentum fades, with much Fed hawkishness and US data resilience already priced in. Contained Oil prices should ease external balance and inflation concerns for net Oil importers. Against this backdrop, OCBC sees scope for some recovery in selected Asian FX, with IDR standing out on easing Oil drag and a still-supportive BI stance.

Selective Asian FX recovery potential

"Asian FX may find a breather if USD momentum fades."

"A fair bit of Fed hawkishness and US data resilience are already in USD pricing, leaving the USD potentially vulnerable to any downside surprise in US labour market data."

"At the same time, contained oil prices should help ease external-balance and inflation concerns for net oil importer FX in the region. "

"Against this backdrop, we see scope for some recovery in selected Asian FX, with IDR standing out given the easing oil drag, still-supportive BI stance and room for positioning to stabilise if broader USD momentum cools."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

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