# Asian FX: Elections and oil shifts drive divergence – OCBC

> Asian currencies diverged after the US midterm elections. Lower oil prices and Treasury yields were seen as supportive for the Thai baht, Philippine peso, and Indian rupee, while technology-sector weakness and foreign outflows could weigh on the Korean won and Taiwanese dollar.

- Date: 2026-11-06 · published 2026-11-06T15:11:51.735Z
- Category: macro · region Asia · magnitude low
- Page: https://feedsoft.ai/events/84171-asian-fx-elections-and-oil-shifts-drive-divergence-ocbc
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md), [Philippine Peso (PHP per USD)](https://feedsoft.ai/c/USDPHP.md), [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

Cheaper oil can ease import bills and inflation pressures, supporting currencies in energy-importing Asian economies. A weaker won could raise the local cost of imported feed and other commodities for South Korean buyers.

## Read by commodity

- USDINR: bearish ▼
- USDKRW: bullish ▲
- USDMYR: neutral
- USDPHP: bearish ▼
- USDTHB: bearish ▼

## Sources

- fxstreet.com: https://www.fxstreet.com/news/asian-fx-elections-and-oil-shifts-drive-divergence-ocbc-202611061156

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.