Dollar Weakens, Asian Currencies Stay Flat — A Divergence Worth Watching

The WSJ Dollar Index fell 0.35% to 97.15 on July 14, 2026, but Asian currencies barely moved. Normally, a softer dollar lifts emerging-market currencies. This time it didn't — suggesting caution, not rate differentials (the gap between countries' interest rates), is driving markets. Investors in Asian local-currency bonds or equities should note: sentiment is in charge, not fundamentals.