Asian authorities are implementing measures to safeguard their currencies in response to the increasing strength of the dollar due to election-related volatility.
Bank Indonesia has expressed its preparedness to intervene in the currency, non-deliverable forwards, and bond markets in order to mitigate any significant fluctuations.
In China, state-owned banks have reportedly sold substantial amounts of dollars onshore to support the yuan, indicating a proactive approach to stabilize the currency against the surge of the dollar.
These actions underscore the mounting concerns among Asian economies as they navigate the challenges posed by external financial pressures.