The EUR has climbed steadily to 1.386, back near to its NY high of 1.388. USDJPY is flat at 102.5 with little onshore activity due to a public holiday. AUD has continued to decline, hitting a low of 0.9228 on the day before rebounding to 0.9249. KRW, TWD and PHP led gains in Asian EM FX, up 0.3% to 0.4%. The KRW, in particular, was boosted by a strong current account release and USDKRW fell to a new post 2009 low of 1031.5. USDCNY fix came marginally lower to 6.1556, leaving USDCNY spot and USDCNH largely unchanged.
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Credit Suisse