In Asia, the Australian dollar against the US dollar topped the league table as the most-used FX rate underlying in Q2. Meanwhile, the issuance of structured deposits tracking the FX rates in China boomed.
FX rates-linked products finished the second quarter strong in Asia as investors remained favoured on the currency asset class led by the Australian dollar against the US dollar pair. SRP data shows that the estimated sales volume of products linked to FX rates in the April-June period amounted to US$11.8 billion across five major Asia markets ex-China (Hong Kong SAR, Japan, South Korea, Taiwan, and Thailand), up more than 11% quarter-on-quarter (Q1: US$10.6 billion). The number of issuances eg