EURUSD and USDJPY are flat to Friday’s New York closes at 1.3750 and 102.88 respectively, but AUDUSD nudged lower to 0.9233. EM Asia FX opened stronger against the dollar, but the KRW and THB lost ground through the morning. USDKRW dropped to 1066.7 from 1069.7 at the open. USDCNY fixed 31pips higher to 6.1521, its highest level since mid-September last year. This pushed USDCNY spot up to 6.22495 and USDCNH to 6.2173, its highest since early March 2013.
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Credit Suisse