USDJPY made another attempt to test the low around 101.8 in Asia. A 1.8bp drop in US 10y yield to 2.7141% also contributed to the move. Outside of JPY, FX majors were mostly treading water with EUR steady at 1.367 and GBP unchanged at 1.665. AUD traded a high of 0.902 on the day before moderating to just below 0.900.EM Asian FX rallied for the fourth day this week, heading for the best weekly gains in 2014. The IDR outperformed, up 0.7% to 11890, boosted by a more hawkish BI yesterday. USDKRW gapped lower to 1061 and USDINR to 62.3 on the open before running into central bank resistance. MYR, PHP and THB have made only marginal gains.
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Credit Suisse