'Goldilocks' Scenario Lifts Asian Currencies to Seven-Month High.

Asian currencies have reached a seven-month high due to decreased concerns about a US recession, expectations of Federal Reserve rate cuts, and positive domestic conditions. The Malaysian ringgit and Thai baht led the rally, with the ringgit reaching its strongest level since February 2023 and the baht reaching its highest level since January. The South Korean won and Philippine peso also saw significant gains. The positive outlook for Asian economies has also led to increased investment in regional equities. [Extracted from the article]