Asian currencies gained on Tuesday (July 18) against a soft greenback, with hopes of a resolution to the political stalemate in Thailand lifting the baht, while stocks mixed in the wake of China's weak economic data. The US dollar index, which measures the greenback against a basket of six currencies, dipped slightly to 99.84 in early Asia trade, after having tumbled to its lowest since April 2022 on Friday. Thailand's Pita Limjaroenrat, the surprise winner of a May 14 election, said on Monday that an eight-party alliance seeking to form the country's next government reaffirmed their backing for Pita to become prime minister.

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