Bank of New York Mellon: Rising oil prices may put pressure on Asia-Pacific currencies

MaticHoleFiller · 2026-04-10T06:31:40+00:00

Bank of New York Mellon pointed out that due to the Iran conflict causing oil prices to rise, currencies in the Asia-Pacific region, especially net oil-importing countries, may face downward pressure. A strengthening dollar and capital outflows will intensify this pressure, while rising inflation could delay the Federal Reserve's easing policies, supporting the dollar in the short term.

MaticHoleFiller

2026-04-10 06:31:40

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Bank of New York Mellon states that, due to the rise in oil prices related to the Iran conflict, currencies of Asia-Pacific countries may face downward pressure, especially those of net oil-importing nations.

Senior Market Strategist for Asia-Pacific at the bank, Wee Khoon Chong, said that while the dollar is strengthening, the pressure of foreign capital outflows could also put pressure on regional currencies.

Rising inflationary pressures may further delay the Federal Reserve’s potential easing policy path. This, combined with safe-haven demand, could support the dollar in the short term.

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