According to ChainCatcher, citing Jinshi, Lloyd Chan of Mitsubishi UFJ Bank stated in a research report that the Middle East conflict may become protracted, and risk aversion and high energy prices will push up US inflation, leading to high US interest rates and supporting the US dollar.
Chan pointed out that Asian currencies such as the Indian rupee, Philippine peso, South Korean won, and Thai baht face significant risks because these countries rely on imported energy and are sensitive to high oil prices. Data showed that the US dollar rose 0.5% against the Philippine peso to 60.763, after earlier hitting an intraday record high of 60.776.
