*Asian Currencies Surge Against US Dollar! ๐Ÿ“ˆ*

Asian currencies are strengthening against the US dollar, driven by the Federal Reserve's interest rate cut. Key performers include:

- *New Taiwan Dollar*: Appreciated by 4.6% to 29.64, highest since June 2022

- *Malaysian Ringgit*: Rose by 1.2% to 4.209, strongest since October 3, 2024

- *Philippine Peso*: Increased by 0.3% to 55.465, highest since September 20, 2024

- *Indonesian Rupiah*: Strengthened to 15,405

- *South Korean Won*: Peaked at 1,330 against the US dollar

*Factors Contributing to the Surge:*

- *Federal Reserve's Interest Rate Cut*: 50 basis points cut weakened the US dollar

- *Economic Growth*: ASEAN and Asian regions are growing remarkably

- *Policy Easing*: Recent policy easing has paved the way for other currencies to surge

*Market Outlook:*

- *Further Appreciation Expected*: Barclays strategists expect further appreciation in Asian currencies amid dollar weakness

- *Varied FX Performance*: Asia's growth and policy outlooks are varied, giving rise to different FX performances

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