{"id":44188,"date":"2026-04-06T21:17:09","date_gmt":"2026-04-06T21:17:09","guid":{"rendered":"https:\/\/www.vtmarketsglobal.com\/en\/uncategorized\/44188\/"},"modified":"2026-04-06T21:17:09","modified_gmt":"2026-04-06T21:17:09","slug":"mufgs-lloyd-chan-says-hormuz-disruption-could-lift-inflation-dent-growth-and-pressure-krw-php-thb","status":"publish","type":"post","link":"https:\/\/www.vtmarketsglobal.com\/en\/live-updates\/44188\/","title":{"rendered":"MUFG\u2019s Lloyd Chan says Hormuz disruption could lift inflation, dent growth, and pressure KRW, PHP, THB"},"content":{"rendered":"Asia faces high exposure to possible energy supply disruption through the Strait of Hormuz. A prolonged disruption could lead to an extended energy shock across the region.\n\nSuch a shock could raise inflation risks, worsen current account positions, and weaken economic growth. This would leave some regional currencies under pressure.\n\n

Regional Currencies Most Exposed<\/h3>\nKRW, PHP and THB are described as likely to remain vulnerable under these conditions. The risk is linked to their sensitivity to higher energy costs.\n\nCNY is described as relatively insulated and more resilient, supported by a higher energy self-sufficiency rate and large strategic reserves. MYR may receive some support because it often moves in step with CNY, alongside strong domestic fundamentals.\n\nThe article states it was produced using an Artificial Intelligence tool and reviewed by an editor.\n\nGiven the growing risk of energy flow disruptions through the Strait of Hormuz, we should prepare for a significant shock to the region. The recent increase in naval patrols has already pushed oil price volatility higher, reminding us of the similar tensions in late 2025 that caused a temporary spike in shipping insurance costs. An extended crisis would hit Asian economies hard by fueling inflation and hurting growth.\n\n

Positioning And Trade Ideas<\/h3>\nFor the coming weeks, we are positioning for weakness in the South Korean Won, Philippine Peso, and Thai Baht. South Korea’s dependency on crude oil imports, which hit 98% in 2025, makes the KRW particularly exposed to price shocks. Consequently, we are seeing increased demand for put options on the KRW as traders hedge against a sharp depreciation.\n\nA strategy to consider is shorting a basket of these vulnerable currencies against the US dollar. The Thai Baht is also a key focus, as Thailand\u2019s net energy imports last year accounted for over 55% of its total consumption. These economies lack the buffers to absorb a sustained period of high energy prices, which will likely pressure their currencies.\n\nBy contrast, the Chinese Yuan is expected to remain relatively insulated, creating opportunities for relative value trades. China’s domestic energy production now covers over 80% of its needs, and its strategic petroleum reserves provide a significant cushion. This stability suggests the CNY will likely outperform its regional peers in a risk-off environment.\n\nThis resilience should, in turn, help support the Malaysian Ringgit. As a net exporter of oil and gas, Malaysia stands to benefit from higher energy prices, a fundamental strength we also noted in our 2025 outlook. Given its strong link to the stable CNY, we are looking at pairing a long MYR position against a short THB position to capitalize on this divergence.\n\nCreate your live VT Markets account<\/a>\u00a0and\u00a0start trading<\/a>\u00a0now. <\/b>\n

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Start trading now – Click here<\/a> to create your real VT Markets account <\/strong> <\/p>\r\n","protected":false},"excerpt":{"rendered":"

Asia\u2019s energy shock risk rises from Hormuz disruption, pressuring KRW, PHP, THB; CNY resilient, MYR supported.<\/p>\n","protected":false},"author":38,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[46],"tags":[],"class_list":["post-44188","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":[],"aioseo_notices":[],"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"josephine","author_link":"https:\/\/www.vtmarketsglobal.com\/en\/author\/josephine\/"},"_links":{"self":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/posts\/44188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/comments?post=44188"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/posts\/44188\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/media?parent=44188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/categories?post=44188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/tags?post=44188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}