– MYR falls on election concerns, IDR rallies
– Eurogroup meeting and US holiday today
– Focus on BoJ meeting tomorrow
What to watch for today
EUR: Eurogroup meeting. Euro area finance ministers meet today in Brussels and will be focusing on the review of Cyprus’ bank recapitalization needs. We expect no decision on the topic until after the presidential election in February. Discussions on the modalities for the ESM to recapitalize banks will also take place, but no final decision is expected until June. Finally, ministers are likely to approve the disbursement of the €9.2bn aid sub-tranche to Greece.
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