Currencies

TALLAHASSEE, Fla. — Gov. Ron DeSantis acted on a diverse slate of legislation Monday, signing eight bills aimed at regulating digital currencies, expanding affordable housing strategies, and tightening search warrant guidelines, while vetoing two measures passed during the 2026 regular legislative session. Among the high-profile approvals was a trio of cryptocurrency and financial technology bills. DeSantis signed HB 175, which establishes a formal state-level licensing and prudential framework for stablecoin issuers under the state’s Office of Financial Regulation to align with the federal GENIUS Act. Alongside it, HB 505 brings...

Asian currencies have broadly weakened since the June FOMC meeting, with the move linked to wider swap rate differentials and a US “higher-for-longer” rates backdrop. THB, KRW and PHP have posted the sharpest declines, while INR and VND have been steadier, a divergence tied to relative yield profiles and differing policy settings across the region. Thailand’s baht is described as exposed as a low-yielding unit, alongside a growth-oriented stance from the Bank of Thailand. The Philippine peso has also drifted lower despite higher carry, with further downside framed as potentially...