How did Asia-Pacific’s forex markets perform so far? The table beside gives a snapshot of the development of the different currencies in the Asia-Pacific region. Thailand’s Baht has increased the most against the USD and even more against the EUR. The Baht rose more than four percent against the USD and over eight percent against the EUR until the end of July this year.[mepr-active membership=”1734″ ifallowed=”show” unauth=”message” unauth_message=”Please login or purchase a membership to view full text.”] On the lower end of the table, the South Korean Wong, which has lost more than six percent against the USD and almost four percent against the EUR over that same period.
Except for Thailand, the Philippines, Indonesia, India, and Japan, all other APAC currencies lost or stayed flat against the USD. Most APAC currencies gained against the EUR, with the exception of the South Korea Wong as the only currency that has dropped against the EUR.
As a comparison, the USD Index, a measure of the value of the USD relative to a basket of six major foreign currencies, increased by 2.4 percent until the end of July. The EUR Index, the unofficial equivalent that represents the ratio of four major currencies against the Euro, lost 0.8 percent over that same period.
The table also shows the direction of the 50-day moving average of each currency against the USD (dark blue) and the EUR (light blue) as a short term trend indicator for possible development in the near future.
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