Which regional currencies weakened most against the US dollar in July?

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The Thai Baht Weakened Most Against the US Dollar in July

In July, the Thai baht experienced the most significant depreciation among Asean-5 currencies against the US dollar, weakening by 1.8 per cent. This regional trend saw other currencies also weaken, with the Philippine peso declining by 0.7 per cent, the Indonesian rupiah by 0.6 per cent, the Malaysian ringgit by 0.3 per cent, and the Singapore dollar by 0.2 per cent.
Regional Currencies Faced Downward Pressure

All five major Southeast Asian currencies weakened against the US dollar in July as the US dollar index rose to 100.9 from 100.3 in June. This broad-based depreciation suggests a strengthening US dollar environment influencing regional markets.
Factors Supporting US Dollar Strength

The US dollar's strength in July was attributed to a combination of elevated West Asia tensions and higher energy prices, which supported its role as a safe-haven asset. Concurrently, softer inflation and labour market data in the United States tempered expectations of further interest rate hikes by the US Federal Reserve, creating a complex dynamic for currency markets.
Malaysian Ringgit's Performance

The Malaysian ringgit extended its losses from June, depreciating by an additional 0.3 per cent in July to average 4.08 against the US dollar. Throughout the month, the ringgit traded largely within the projected range of 4.07 to 4.10 against the greenback.

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Which regional currencies weakened most against the US dollar in July?

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