AUDUSD and USDJPY are flat at 0.9269 and 102.37 respectively while EURUSD moved slightly higher to 1.3832. Most EM Asia currencies weakened against the dollar at the open, but have since recovered to be essentially flat on the day. The IDR and PHP have been the exceptions, rallying to 11,568 and 44.678 respectively. USDCNY fixed 13pips lower to 6.1576, a third consecutive fall and, today, in line with our model based on change in the DXY.
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Credit Suisse