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US Dollar Outlook: Federal Reserve in Focus for SGD, THB, IDR, PHP Amid Covid Risks
The US Dollar extended gains against ASEAN currencies such as the Singapore Dollar, Thai Baht, Indonesian Rupiah and Philippine Peso last week. Albeit, its appreciation fizzled into the weekend as Covid case growth in the Emerging Asia-Pacific region slowed – see chart below. As I have been writing about lately, monitoring the coronavirus and implications for growth in the region remain key to the outlook for these currencies. Indonesia has been somewhat of a standout as of late, with daily infections clocking in above 50k per day. This past week, the Bank of Indonesia lower third-quarter economic growth estimates ... (full story)