FX Regime Intelligence

FX Regime Intelligence

The move is broad: 4 of 9 Asian currencies strengthened against the dollar.

This page shows whether Asia is following one broad dollar move or breaking into different local stories.

01South Korean won+3.3%
02Indian rupee+0.9%
03Malaysian ringgit+0.4%
04Chinese yuan+0.2%
05Singapore dollar-0.3%
06Thai baht-0.5%
Strongest currencySouth Korean won+3.3%
Weakest currencyIndonesian rupiah-1.7%
Currencies stronger4 of 9Against the US dollar, one month
Median move-0.3%The middle currency
Without the leader-0.4%Average of the other currencies
Best-to-worst gap5.0 pointsHow far the outliers sit apart
1M and 3M agree7 of 9One currency points the other way
Dollar index+1.7%The broad dollar barely moved
Common market linkNo strong common link+0.15 on a -1 to +1 scale
Coverage9 currenciesPrices through 2026-10-19

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A broad move—with local outliers.

4 of 9 currencies strengthened this month, so the regional direction is clear. The gap between the strongest and weakest still shows where local pressures differ.

Currency1 week1 month3 monthsDirection
South Korean won+0.6%+3.3%+9.9%Strengthening
Indian rupee+1.9%+0.9%+1.4%Strengthening
Malaysian ringgit+0.0%+0.4%+0.1%Strengthening
Chinese yuan+0.0%+0.2%+1.1%Strengthening
Singapore dollar+0.1%-0.3%+1.0%Weakening
Thai baht+0.3%-0.5%+0.9%Weakening
Philippine peso-0.2%-0.5%-2.1%Weakening
Taiwan dollar-1.5%-1.7%-0.2%Weakening
Indonesian rupiah-0.8%-1.7%-0.8%Weakening

Removing South Korean won leaves the remaining currencies at -0.4% on average. The conclusion survives without the winner.

Did another market move alongside it?

None of the broad market gauges moved closely enough with the currency basket to offer a strong common explanation.

US dollar index+0.02
Oil-0.03
Chip shares-0.14
Market fear+0.15

Research by for Charlie Quant Lab · Updated