The dollar has risen against the JPY, but is flat against the AUD and down slightly against the EUR. AUDUSD rallied to 0.9111 on the open, dropped to a low of 0.9049 after the HSBC China PMI, and settled at 0.9081 at the time of writing. USDJPY has risen to 102.46 while EURUSD has risen a touch to 1.3801. Most EM Asia currencies have strengthened, led by 0.4% rallies in the IDR and INR to 11,379 and 60.7050 respectively vs. the dollar. China fixed USDCNY 23bps lower to 6.1452, but USDCNY and USDCNH spot and forward are essentially flat. We sustpect Indonesia’s central bank bought dollars while the Malaysian and Singaorean central banks seem to have sold dollars.
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Credit Suisse