AUDUSD has drifted off of its overnight high of 0.8942 to trade at 0.8882 at the time of writing. Both EURUSD and USDJPY are slighly lower from their New York levels, trading at 1.3513 and 101.43. EM Asia currencies generally opened stronger against the dollar, but have generally given up gains. USDKRW is at 1080.75 and USDMYR is 3.324. Asian yields are slightly lower almost across the board. JGB yields are down 1 – 2bps at the long end, Korean rates down the same, and Malaysian rates are about 3bps lower.
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Credit Suisse