– Asian shares and currencies fell
– USDJPY trades 88.0 levels
– We expect the Copom to stay on hold today
What to watch for today
USD: Steady. Our economists expect a 0.4% mom reading on December industrial production, down from 1.1% mom in November but above consensus for 0.2% mom. Earlier in the day, we expect CPI to show 0.0% mom headline growth and 0.1% mom on the core. The combination of stagnant price pressures and growth in activity data is likely to be supportive for risk currencies geared to the US, in our view, namely MXN.
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