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MUFG: U.S.-Iran Conflict De-escalation Crucial for Asian Currencies

3/26/2026

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Story summary
  • A MUFG Bank report says de-escalating the U.S.-Iran conflict is essential to stabilize Asian currencies.
  • Lloyd Chan of MUFG Bank says normalization of energy flows through the Strait of Hormuz is critical.
  • The dollar is slightly higher against the Thai baht, Philippine peso, and Korean won.
  • OCBC Global Research notes that Asian currencies show early stability but remain at risk if the conflict worsens, despite anticipated policy intervention.