WOE FOR ASIA TODAY AS INR, IDR UNDER SEVERE PRESSURE
• India needs big bang set of INR measures as incremental steps prove useless; further monetary tightening is possible.
• Indonesian equities continue to suffer as foreign selling hits IDR.
• Our near term USDTHB target is hit; keep long as the topside is only neutralized by a trade below 31.17.
• USDCNY remains an island of relative stability as the USDCNY fix was only up small today.
Read the full report: FX Daily
Scotiabank