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💨IMPACT LEVEL 1 — MEH

Epstein File EFTA01458679: Driver and Offshore (DS10)

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A financial or economic analysis document discussing equity outflows as a driver of Asian currency weakness and offshore investor positions in foreign exchange markets. The excerpt does not reference Epstein or reveal case-specific information.

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Excerpt 1
Recall that equity outflows were a much bigger **driver** of Asian FX weakness over the summer than bond outflows (this was a 'growth tantrum' more than a
Excerpt 2
This suggests **offshore** investors have rapidly unwound long USD asset hedges or speculative positions.
Excerpt 3
For five pairs (MYR, PHP, IDR, KRW, TWD) the **offshore**-onshore yield spread is at or near the lowest level over the past year (Chart 2).

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