0408 GMT - Asian currencies are likely to continue to face headwinds, as tightening global liquidity and higher oil prices keep inflation risks alive, MUFG Bank analysts say in a research report. "This development could give rise to a more differentiated regional FX outlook," they add. There is a wider divergence in currency performance across the region as Brent crude oil prices are above $100 a barrel. Higher oil prices are negative terms-of-trade shock for net energy importers including Thailand, the Philippines and India. On the other hand, net commodity exporters such as Malaysia, and to a lesser extent, Indonesia, could see some offset on its currencies against the oil shock.