Asia FX Scorecard
• Bloomberg Brief FX Scorecard favors the Indonesian rupiah against the Thai baht this week.
• The IDR’s +927bp implied yield differential suggests offshore investors are extremely short IDR, and weekly technical signals indicate selling momentum is fading.
• The THB faces headwinds from Q1 GDP data, technicals and quantitative indicators this week.
• Long IDR-THB has positive carry and could be resilient to a swing in risk appetite.