Markets are still grappling with global trade and fiscal policies in flux and we were reminded this week that geopolitical risk is never out of the frame for too long. The broadening of hostilities in Israel and Iran necessarily extends the vigilance of policymakers for first and second order impacts on their economies, carrying with it potential implications for currency and interest rate markets, in particular. This week, we look at how all-important reserve managers and governments in Asia are considering all of these threats to stability and how currency and monetary policies are likely to adapt. We bring Dwyfor Evans, our head of macro strategy for Asia, back to the podcast for a broad discussion of the most relevant considerations.