Indonesia Rupiah and Korean Won Under Renewed Pressure – BNY

BNY’s Bob Savage points to renewed stress in parts of emerging Asia, singling out Indonesia and South Korea. The Indonesian rupiah has weakened beyond the 18,000 level against the US dollar, while the Korean won remains under pressure even as the country posts a strong current account surplus.

Savage's comments reflect growing concern over EM FX stability amid global headwinds. The note did not provide specific forecasts or policy recommendations.