In FX, AUDUSD rallied as much as 0.7% in the wake of better-than-expected capex data, but has eased off its high to trade at 0.9119. In contrast, EURUSD is flat at 1.3578 and USDJPY has retraced slightly to 102.06 after trading as high as 102.28 in early Asian hours. USDKRW gapped higher to 1064.74 at the open but traded back down to 1061.32, only marginally higher than yesterday’s close. USDMYR edged up to 3.2343 while USDTHB and USDPHP rose to 32.188 and 43.735. USDIDR traded to a high of 11,998 where it met intervention with some offshore selling pushing it down to 11,943. USDCNY fixed 13pips higher to 6.1343.
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Credit Suisse