Local central banks are seen as committed to tightening to prevent their US yield gap from widening.
Analysts consider the Indonesian rupiah, Philippine peso, and Thai baht as top picks amid the weakening dollar.
Other experts point the fact that Asian central banks have enough firepower to defend their currencies. All monetary authorities in the region now have foreign-exchange reserves that can cover well over three months of imports. A Bloomberg gauge of Asian currencies are headed for the biggest three-day rally since July, with the South Korean won and the Indonesian Rupiah gaining more than 1% in early trading Monday.
They’re also relatively calmer. The yuan, Indian rupee and Malaysian ringgit are among the least volatile exchange rates in the asset class over the last 30 days.
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