NZD dropped from a high above 0.810 before stabilizing at 0.807 on news of Wellington quakes. AUD continued to strengthen to 0.917, pulling AUDNZD higher to 1.135. USDJPY has bounced off the overnight low to trade around 97.60 but EURUSD was largely steady at 1.334. The USD extended gains against IDR, INR, and MYR in Asia, but lost ground against KRW, TWD, and SGD. USDIDR spot continued to march higher towards 10440, while the 1 month forward is making 4-year high of 10640. The PBoC fixed USDCNY slightly lower to 6.1666, resisting a much sharper fall in the USD overnight.
Most equity markets in the region fell, with the exception of the Chinese indices, which rallied 1.2% to 3.2%. The Nikkei dropped 0.6%, ASEAN markets are down 0.1% to 1.5%, while S&P futures traded 0.2% higher.
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Credit Suisse