Asia’s currency markets are struggling to make sense of a global economy in transition. Rising US interest rates stir risks of recession while falling rates in China reflect growing urgency to give its recovery greater traction. Meanwhile, investors are treading cautiously, ever-wary of pitfalls ranging from China’s beleaguered property sector to South Korea’s household debt.

Where does this leave the currency outlook for Southeast Asia and emerging markets? Where are the opportunities? Do the risks outweigh the rewards? Alvin Tan, head of Asian currency strategy at RBC Capital Markets, and Rena Kwok, Asia financials credit analyst at Bloomberg Intelligence join hosts John Lee and Tom Corbett for a closer look at how prevailing trends are impacting Asia's major currencies.