The dollar has drifted slightly weaker with AUDUSD rising to 0.9374, EURUSD recovering to 1.3839 after a brief dip and USDJPY falling to 101.98. USDKRW fell to a low of 1034.40 where we believe it was met with intervention. It has subsequently risen to 1038.04. The TWD traded similarly, dipping to 30.055 before bouncing back to 30.16. USDIDR opened lower but has edged back up to 11,431 while USDINR has dropped to 60.29. USDCNY fixed 14pips lower to 6.1575, pulling USDCNY down to 6.2181 despite continued corporate buying. USDCNH dipped to 6.2202.
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Credit Suisse