Mitsubishi UFJ: Oil price rebound may pressure Asian currencies, with Thai Baht and Indian Rupee particularly sensitive

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智通财经2026/07/20 02:11

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Mitsubishi UFJ currency analysts pointed out that due to the rise in geopolitical risk premium and a decrease in oil tanker traffic through the Strait of Hormuz, oil prices have rebounded, which may put pressure on Asian currencies.
The Thai baht and Indian rupee show greater sensitivity to the rebound in oil prices; last week, both currencies fell about 1% against the US dollar.
Analysts believe that the downside risk for the Thai baht remains dominant, especially against the backdrop of the continued deterioration in Thailand's balance of payments.

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The US dollar index, which measures the dollar against six major currencies, rose by 0.19% on the day to close at 100.957 in late trading on the forex market. By the end of trading in New York, 1 euro was exchanged for 1.1415 US dollars, lower than the previous trading day's 1.1436 US dollars; 1 pound sterling was exchanged for 1.3436 US dollars, lower than the previous day's 1.3454 US dollars. One US dollar could be exchanged for 162.50 Japanese yen, higher than the previous day's 162.45 yen;

智通财经•2026/07/20 19:46

International oil prices rose on the 20th. At the close of trading that day, the price of light crude oil futures for August delivery on the New York Mercantile Exchange rose by $0.74 to close at $83.23 per barrel, an increase of 0.9%. The price of Brent crude oil futures for September delivery on the London exchange increased by $1.12 to close at $89.22 per barrel, up 1.27%. This rise in crude oil futures prices is expected to have a certain impact on subsequent expectations related to global

智通财经•2026/07/20 19:46