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Greenback fades as Singapore dollar, ringgit, baht shine in Asean foreign exchange shift

Regional currencies are strengthening as US dollar outflows accelerate, with selling pressure mounting amid ongoing tariff tensions

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Evan See

Evan See

Published Thu, Jun 12, 2025 · 02:19 PM
    • A trend of 'de-dollarisation' has taken hold in global markets as the greenback loses its charm among Asean investors and corporates.
    • A trend of 'de-dollarisation' has taken hold in global markets as the greenback loses its charm among Asean investors and corporates. PHOTO: REUTERS

    [SINGAPORE] US-Asean foreign exchange (FX) markets were lukewarm as announcements of a China-US trade agreement revealed few details following talks in London on Wednesday (Jun 11), with widespread uncertainty now becoming the norm for investors.

    DBS analysts Eugene Leow and Philip Wee said: “Implied volatility is now reflecting little to no stresses and is essentially back at pre-Liberation Day levels.”

    This hardly surprised market analysts, who observed that mere hints of favourable news – in a world where policy reversals have become the norm – are no longer as likely to move markets. 

    Asean BusinessUS dollarRinggitbahtrupiahpesoCurrenciesSingapore dollar

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