Asia Insights Global Markets Research Rates - Asia ex-Japan Asia FX/rates outlook 2026 Stable USD into 2026, but downside risks should build; we highlight our top Asia FX and rates trades into 2026. Our global economics team's forecasts for growth and rate policy projections for the major economies over coming months suggest USD could be supported into Q1 2026. This increases the probability of a break-out higher from the range that has been in place since July 2025. However, we believe there are many near- ...