The EUR was unchanged at 1.3735 but USDJPY has started to climb to 101.69 in Asia trading. AUD gapped lower to 0.8910 post RBA but has since retraced to 0.8933. In EM Asia FX, IDR underperformed, down 0.3% to 11630. USDPHP rose to a two week high of 44.825 and USDINR opened 0.1% higher before trading down flat to yesterday’s closing around 62.08. The PBoC raised the USDCNY fix for the first time this week by 46 pips to 6.1236, but USDCNY spot and USDCNH were left relatively stable at 6.1497 and 6.1283 respectively.
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Credit Suisse