The recent USD surge has ignited a series of official reactions across Asian currency markets: Bank Indonesia continued to actively support the rupiah in response to the USD surge, Philippine central bank governor signaled defense of the peso at the 57 per dollar mark, and China’s central bank maintained a strong yuan reference rate. Indonesia’s foreign outflows put pressure on the rupiah, while high energy and food costs affect the baht and peso. A weaker economic outlook for China also influences regional currencies.