The G10 commodity bloc remained under pressure in Asian trading ahead of the FOMC minutes. AUD and NZD fell 0.6% to 0.903, and 0.793, while CAD dropped 0.4% to 1.042. EUR was again steady at 1.342, and JPY largely range bound.
Asian stocks and FX were mixed. The Nikkei dropped 0.6%, Kospi shed 1.3%, and S&P futures was down 0.2% but Sensex and Jakarta rallied 1.2%. USDIDR rose to a cycle high of 11,080, despite the rebound in the local stock index. INR opened unchanged, maintaining overnight following RBI measures to calm bond market investors. Elsewhere, MYR and SGD declined marginally, while KRW and TWD rose, outperforming the region. The PBoC fixed USDCNY 22pips lower to 6.1675.
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