According to Jin10, market analyst Jeremy Boulton said that if energy prices remain elevated, the Indian rupee, Indonesian rupiah, Philippine peso, and Turkish lira are expected to extend their declines and could even fall below their current record lows. He added that central bank support would more likely only slow the pace of depreciation rather than stop the decline, and that the pressure on these currencies comes not only from oil prices but also from natural gas, palm oil prices, and coal prices. Natural gas prices have surged to a multi-year high, palm oil prices have risen to their highest level since December 2024, and coal prices have climbed about 16% over the past month. Boulton also said the yen could extend its decades-long weakening trend if Japanese monetary policy continues to weigh on the currency and the policy stance does not change materially, while energy price gains could support the U.S. dollar because the United States is one of the main energy exporters and demand for the dollar could rise further if emerging market currencies weaken sharply.