Dollar Slips, Asian Currencies Don't Follow — A Divergence Worth Watching

The WSJ Dollar Index fell 0.35% to 97.15 on July 14, 2026, yet Asian currencies barely budged. That divergence signals capital isn't rotating into regional assets; risk-off sentiment may be pressuring emerging units even as the dollar softens. For investors in Asian local-currency bonds or equities, the message is that sentiment, not rate differentials, is driving the tape.