Asian Economist

Kok Peng Chan

Kok Peng has over three decades of experience covering the global economy and financial markets. He spent the bulk of his career in top global investment banks where he covered the Asian economies and stockmarkets. During this period, he travelled extensively to meet clients that cut across business lines. They include fund managers, hedge fund managers, private banking clients, corporates, and fixed income investors in the US, Europe, Japan, Singapore, Hong Kong and Australia. He is well liked by clients because of his commitment to a consistent framework and the ability to explain economic and financial developments with actionable investment recommendations. As a result he was ranked among top 3 economists in many surveys and polls conducted by financial magazines.

FX Snapshot - DXY—Quiet Comeback of Just Resting?

FX & Rates

<ul>
<li>Investors are under-appreciating a sharp narrowing of the US current account deficit in 2Q25. This is a sustainable trend as net government borrowing normalises to around 5% of GDP</li>
<li>The US is not losing its ability to attract long term capital flows. In 2Q25, net foreign direct investment reached $121b, the strongest since 3Q22</li>
<li>The result is a sharp improvement in the basic balance. Investors should monitor this indicator to assess whether Trump's policy mix of fiscal consolidation and re-shoring is succeeding or not</li>
</ul>


Investors are under-appreciating a sharp narrowing of the US current account deficit in 2Q25. This is a sustainable trend as net government borrowing normalises to around 5% of GDP
The US is not losing its ability to attract long term capital flows. In 2Q25, net foreign direct investment reached $121b, the strongest since 3Q22
The result is a sharp improvement in the basic balance. Investors should monitor this indicator to assess whether Trump's policy mix of fiscal consolidation and re-shoring is succeeding or not


Beyond the Current Account Deficit: What Drives the US Dollar?

Dollar Index

Beyond the Current Account Deficit: What Drives the US Dollar?